This article examines how disruptions in global production networks (GPNs) reshape lead firm strategies and the geographies of production. We adapt the GPN 2.0 framework by incorporating three mediating factors on lead firm strategy—supplier investment case, path dependencies, and state action. Focusing on textile and apparel GPNs, we find: (1) since the mid-2010s, lead firm strategies have been disrupted by increased online sales and geopolitical tensions; (2) lead firms adapted their sourcing strategies by increasing nearshoring, verticality, and ‘China + 1’ strategies; (3) these strategies materialized in apparel assembly, while production of inputs (fabric, fibers, accessories) remains concentrated in China.