From America to Europe: Retailers Navigate the Waves of Tariffs
Retailers are redirecting focus from the U.S. to Europe due to rising tariffs under the Trump administration. Brands like Zalando and Hugo Boss are exploring the European market for growth. U.S. tariffs have led companies like Mattel and OTB to adapt by increasing prices and reevaluating production strategies.
Amid growing tensions over U.S. tariffs, a shift in focus is unfolding among retailers and consumer brands. With expectations of heightened prices and diminishing demand stateside, many are turning their gaze toward Europe and other international markets.
Zalando, a European online fashion leader, confirmed discussions with new clients aiming at the European sphere. 'Brands and retailers are pivoting to Europe to spur additional demand, particularly as U.S. challenges mount,' asserted Zalando's co-CEO, David Schroeder.
The sweeping 10% tariff on U.S. imports, combined with a staggering 145% on Chinese goods, is prompting substantial shifts in global product flows. German giant Hugo Boss and toy producer Mattel are among those altering strategies, underscoring substantial impacts on consumer spending and business operations.
(With inputs from agencies.)
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