Fast Retailing wants to reduce reliance on China
Japanese group Fast Retailing - owner of Uniqlo - is looking to reduce its reliance on sourcing from China, which is currently at 70%. The company wishes to reduce lead times on products and to improve efficiency on a larger scale.
A spokesperson for the company has said that the company will continue partially source in China. "We are not limiting the countries under consideration, so we would like to collaborate with any country that can provide more production capability at a high quality and shorter lead time, with cost benefit," the spokesperson said.
For the current financial year - ending 31 August – the group is expecting to reach revenue of 850 million euros, which equates to a 17.9% increase on last year. The group also is expecting an increase of 13.5% in operating profit to 1.43 billion euros. Fast Retailing has 833 stores in Japan and a further 300 addresses across 12 different countries.
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