Tariff Quote Watch: Natuzzi Starts Move to Vietnam as China Competitiveness Drops — Panjiva
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Tariff Quote Watch: Natuzzi Starts Move to Vietnam as China Competitiveness Drops

China 2100 Cons. Discr. - Durables 181 Tariff Quote Watch 184 Tariffs 1452 Vietnam 220

Revenues at furniture maker Natuzzi fell by 5.0% year over year 3Q due to “the imposition of U.S. tariffs” on imports that meant “our plant in China has become less competitive” according to CEO Pasquale Natuzzi. That’s led the firm to scale back its Chinese capacity by 56.8% by 3Q 2020 and increase sourcing from Vietnam in 1Q. Natuzzi has already started to cut back imports from China, which represented 78.2% of the total in the three months to Oct. 31, with a 24.8% year over year drop. Sourcing from the rest of the world rose by 22.9%. Yet, shifting to Vietnam means Natuzzi may be expo...

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