**US Tariffs Hit Chinese Exports Hard: Retail Orders Delayed**
US tariffs under Donald Trump are shaking up the eyewear market, with Inspecs, a top glasses manufacturer from Bath, feeling the pinch. Their Chinese production has been “heavily impacted,” causing many retailers to hit pause on orders as they navigate an uncertain trade environment. Right now, tariffs are paused at 30% for Chinese exports to the US and 10% vice-versa, thanks to a temporary truce lasting until November.
Despite these challenges, Inspecs remains upbeat about its achievements. They’ve launched new eyewear lines, including Tom Tailor glasses, which are already flying off the shelves, and Gwen Stefani’s LAMB collection, complete with a brand new website.
The company is taking proactive steps, slashing operating costs to weather the sales slump and aiming to meet its yearly financial goals. Chief exec Richard Peck remains optimistic, despite the dip in sales, noting, “We’ve experienced first-hand the macro-challenges, but we’re proud of the progress we’ve made where we can.”
Inspecs generated £97.6 million in sales during the first half of the year, a slight drop from last year’s £100.6 million. Pre-tax profit slipped to £2.4 million from £2.6 million, largely affected by increased costs and cautious spending from retailers.
In parallel, government spending cuts have hit their low-vision division in the US, adding to the hurdles faced by the company. However, with strategies in place, Inspecs is eyeing a promising outlook for 2025.
Stay tuned for the latest updates and reactions as the tariff talks continue! 📈🕶️