From Offshoring to Risk Diversification: The Reconfiguration of Sourcing Strategies in the Spanish Fashion Industry.

Global Value Chains (GVCs) underwent rapid expansion during hyperglobalization. However, starting in 2008 their dynamism began to slow, giving rise to the current scenario of slowbalization. This paper analyses the fashion industry, a sector representative of the transformations taking place in international merchandise trade over recent decades due to its high degree of integration in global production networks. Using data on Spain’s clothing imports from its 25 main suppliers between 1999 and 2023 (N = 625 supplier year observations), the study analyses the evolution of sourcing geography and associated reconfiguration strategies. The findings show that diversification is the predominant strategy, although dependence on Asian supply persists in the slowbalization period. Moreover, the geopolitical dimension (friendshoring) appears to be limiting the consolidation of extra EU nearshoring strategies, after the surge observed in 2021. The study provides novel longitudinal evidence about the situation in Spain, incorporating a critical sociological perspective that complements traditional macroeconomic approaches to the restructuring of European GVCs.