Shein is sharply reducing its Vietnam operations a year after leasing a large logistics hub near Ho Chi Minh City, as the end of the US de minimis loophole weakened Vietnam's role as an export base. The company now pledges over $1.5 billion for a supply-chain system in Guangdong, China, while some suppliers are dropping Shein due to thin margins and cooling US demand.
Shein scales back Vietnam operations, refocuses on China
Source: Reuters