Puma Feels Trade Heat as Sportswear Makers Retreat From China

Puma SE is already feeling the heat from the U.S-China trade war before President Donald Trump’s proposed tariffs hit the sportswear sector.

In a bid to insulate itself, Puma is accelerating a shift of footwear and apparel production out of China and into countries like Vietnam, Bangladesh and Cambodia. As other manufacturers do the same, the new supply hubs are getting more crowded. That’s driving up costs for everything from factories to shoe components to packaging, Puma Chief Executive Officer Bjorn Gulden said.

“I can’t quantify what that is, because I don’t think there’s a number for it, but it’s ...