Home / Knowledge / News / USA sets eyes on Nicaragua as footwear supplier
USA sets eyes on Nicaragua as footwear supplier
16
Apr '12
The Footwear Distributors and Retailers of America (FDRA), in its recently published 2012 Annual Footwear Sourcing Forecast, showcased Nicaragua as a "rising star" with great potential to increase its footwear exports to the U.S.

According to the 2012 forecast, U.S. footwear imports from China accounted for 85.3 percent of all U.S. footwear imports in 2011, the lowest market percentage in seven years.

The U.S. should thus seek to restructure its sourcing strategies and options due to China's increasing prices, shortages in labor and increased compliance costs, and "keep an eye on Cambodia, Bangladesh and Nicaragua".

Additionally, the report mentions that imports into the U.S. will continue to grow from US$22.7 billion in 2011 to US$25.2 billion by 2016, which gives room for emerging sources, such as Nicaragua, to substantially increase its exports into the country.

Due to the positive development and investment opportunities in Nicaragua's footwear manufacturing sector, the country will be hosting an international forum titled "Nicaragua, The Right Step", during June 13th and 14th, in the city of Managua. The event organized by PRONicaragua, the official investment promotion agency of Nicaragua, will give participants the unique opportunity to learn why the country has become an attractive and increasingly competitive production platform for this industry. Renowned international speakers and participants are expected to attend this unprecedented event.

Schmidt Irmaos, a Brazilian women's footwear manufacturing company, began operations in Nicaragua in 2010, with plans to generate up to 4,000 job opportunities. Brazilian shoe manufacturer ANIGER also began operations in the country in 2011 with plans to create a total of 1,200 jobs and produce up to 10,000 pairs of shoes a day.

PRONicaragua is the Nicaraguan Investment Promotion Agency, established in 2002. It is a non-profit, public-private institution whose mission is to generate economic growth and job creation in Nicaragua by attracting high-quality foreign direct investment. The agency provides complimentary support services to qualified investors seeking investment opportunities in our country.

PRONicaragua

Must ReadView All

Apparel/Garments | On 28th Apr 2017

Continue existing Duty Drawback, ROSL scheme post GST: TEA

Tiruppur Exporters' Association (TEA) has made requisitions to...

Apparel/Garments | On 28th Apr 2017

Deckers Brands starts review of strategic alternatives

Deckers Brands, a global leader in designing, marketing and...

Courtesy: AAFA

Fashion | On 28th Apr 2017

Andrew Rosen, Stuart Vevers among AAFA awardees

Andrew Rosen, founder and CEO of Theory, Stuart Vevers of Coach, Nick ...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X