Joe & Bella sought to move sock production to India due to lower costs and perceived safety from tariffs. However, the Trump administration's sudden doubling of import duties on Indian goods to 50% negated potential savings, alongside longer manufacturing timelines in India. Consequently, Joe & Bella abandoned plans for India and reverted to sourcing entirely from China, emphasizing the unpredictability of tariffs as a significant concern for smaller brands. The overall tariff rates have reached historic highs, complicating diversification in sourcing and long-term business planning.
Pricing seemed great. We actually were probably, in the next few weeks, planning on getting a few prototypes made to see if the quality hit our standard levels.
Anyone could get hit at any time for any reason. Sometimes the safest move is just to stay put.
Costly tariffs have become an unavoidable part of doing business in the U.S., with the overall average tariff rate now at its highest level since the Great Depression.
We can't diversify if we don't know which country will be hit next.
Collection
[
|
...
]