Saturday, November 22, 2008
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Asda considers sourcing shift
Rampant inflation in China could force supermarket-giant Asda to look elsewhere for its sourcing requirements, the company has said.
Andy Bond, Asda’s chief executive, told the Daily Telegraph that the company was looking to divert its sourcing activities away from China to alternative low-cost countries such as Vietnam.
The move is a further sign that the soaring cost of commodities and wages in China are impacting on foreign companies doing business in the country.
"In common with other retailers we are always looking to where we source from, and Vietnam is one of the countries we are looking to," said Bond.
Food prices in China are estimated to have risen by almost a quarter in the first eight months of 2008, with retailers also claiming that non-food inflation is moving into low double digits.
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