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DID YOU KNOW?
83% of the Footwear Brands face these 3 Major losses due to their Shoe Manufacturers
Loss of Revenue due to
For every 20,000 pairs of late delivery, the brand can lose up to US $1.5 million in revenues.
Loss of Profit Margins due to Inferior Quality
For every 10000 pairs of inferior quality of products a brand can lose as much as 18.75% of its profit margin.
Losses due to Compensation Paid
Any Breach in the social compliances from the factory or the material compliances can lead to payments in compensation from US $50,000 to US $40 million. Let aside the loss in goodwill and legal fees.