Fast Retailing (Uniqlo): lower prices on the horizon?
The Fast Retailing group has expressed its intention to work towards lower selling prices, without compromising its quality. The statement was made at the Autumn/Winter 2016-17 show of its leading brand, Uniqlo.
"We are considering how to sell value-added products at the lowest possible prices," stated Fast Retailing manager Tadashi Yanai, as reported by Bloomberg, underlining how "the world is swamped with clothes that offer no added value."
A declaration that immediately had people talking, as observers of the Japanese market had since several weeks been expecting that the Fast Retailing group would have to lower its prices while waiting to introduce a new range which would justify a higher price level. This at a time when Japanese consumers are rationalising their fashion purchases.
The Fast Retailing group generated a net income of €815 million in the fiscal year closed at the end of August, equivalent to a 48% rise. Sales in the same period reached €12.5 billion, a 26% increase. However, operating income fell short of the forecasts.
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