Adidas severs partner relationship
24/11/2009
Adidas has announced that it will end its current business relationship with SS Ventures International, a Philippines-based outsource footwear manufacturer, by the end of the year.
The sports brand said it had taken the decision owing to “current adverse conditions in the global export market”. On making its original announcement on November 23, adidas said it planned to continue placing orders with SS Ventures until the end of 2009, but local media have suggested that the owners of the footwear manufacturing firm may be unable to secure enough financial backing to continue that long.
The situation is of concern to the authorities in the Asian country because, as well as employing hundreds of people, the company has won national awards for export performance.
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