Big US toymakers said they are accelerating efforts to diversify away from China as they warned tariffs would weigh on financial performance this year.
Mattel, the toymaker behind Barbie dolls and Hot Wheels, said it expected its US imports from China to decline to below 10 per cent by 2027, from less than 20 per cent currently. Monopoly-maker Hasbro said it planned to cut its China exposure by 10 per cent to less than 40 per cent of imports by 2027.
“This is really about diversifying our supply chain and making sure we have the right balance across different countries,” Mattel chief executive Ynon Kreiz told the Financial Times.
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