US: VF to open Panama sourcing office
Apparel maker VF Corporation is to set up a supply chain office in Panama City to manage purchasing in the Latin America region.
The company told local news media that the move will "bring together product procurement functions and leadership, including internal manufacturing, sourcing and direct material procurement, under a common location."
The office is due to open by the end of October, and reflects a growing trend for apparel makers to shore up their sourcing operations closer to home.
Panama was selected because it has a fast-growing economy, a stable government, and a strong commitment to foreign investment.
VF's brands include Lee, Wrangler, Nautica and 7 For All Mankind.
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