Athletic Footwear & Apparel
Athletic Footwear Supply Chain
Where Nike makes the product
FY2026 NIKE Brand finished goods. Footwear is Vietnam 52%, Indonesia 27%, China 16%. Apparel is more spread, with Cambodia second after Vietnam.
VietnamIndonesia / CambodiaChinaOther
VF contractor footprint
About 231 million units from about 216 factories in about 24 countries, plus the tariff regime sitting on that map.
| Units sourced | About 231 million |
| Contractor factories | About 216 |
| Source countries | About 24 |
| Owned retail stores | 1,080 |
| Concession stores | 868 |
| Distribution centers | 13 owned, plus third-party |
| Employees | About 26,000 |
| Tariff note | April 2025 IEEPA reciprocal tariffs; Supreme Court invalidated IEEPA tariffs in February 2026; replacement tariffs followed immediately. |
Tariff and trade timeline
IEEPA reciprocal tariffs in April 2025, de minimis removal, the February 2026 Supreme Court ruling, and replacement duties. Under Armour and lululemon already printed the cost.
| Date | Event | Why it matters |
|---|---|---|
| April 2025 | US announces broad reciprocal tariffs under IEEPA. | Footwear and apparel from Vietnam, Indonesia, and China sit in the blast radius. VF 10-K. |
| May 2, 2025 | US eliminates de minimis duty-free treatment for certain shipments. lululemon says unmitigated tariffs plus de minimis removal cut FY2025 gross profit by about $275 million. | Most of lululemon's US e-commerce is fulfilled from Canada. The exemption's removal is a Direct-channel cost, not just a factory cost. |
| FY2026 (UA, year ended Mar 31, 2026) | Under Armour gross margin 45.5%, down 240 bps, primarily higher tariffs. | The tariff bill showed up in a reported P&L, not just a risk factor. |
| February 2026 | US Supreme Court invalidates IEEPA tariffs. Replacement tariffs imposed immediately after. | VF 10-K. The legal win did not restore the pre-April 2025 duty stack. |
| UA FY2027 outlook (May 2026) | Under Armour guides gross margin +220 to +270 bps, including about 150 bps from assumed IEEPA cost reversal. | The guide itself is the tell: tariff accounting is still a swing factor. |
| Ongoing | UFLPA forced-labor detention risk on cotton and other inputs. | A separate import ban regime from the reciprocal tariff stack. Named in sector risk, not quantified here. |
Gross margin into the tariff year
Under Armour is the explicit tariff print (45.5%, down 240 bps). lululemon fell 260 bps and later quantified about $275 million of unmitigated tariff and de minimis cost. Nike's GM was roughly flat.
Prior yearLatest year
