Uniqlo's Japanese owner on Thursday said operating profits were higher than pre-pandemic levels in its Q1, boosted by China's resurgence and strong demand for stay-at-home clothes like jogging pants and loungewear.
Fast Retailing said on Friday that it’s pulling its GU chain out of the South Korean market later this summer. It will close all three of its GU stores in the country, less than two years after it opened there.
Circumstances conspired against Fast Retailing in Q1 with the firm having faced several obstacles in the Asia market. And its Uniqlo chain was also at the mercy of the weather last month as high temperatures hit sales.
Uniqlo and GU owner Fast Retailing said on Tuesday that hackers could have accessed personal information of around half a million Japanese customers of those two retail brands via their respective webstores.
Uniqlo may get the lion’s share of attention when it comes to Fast Retailing news, but the parent company’s GU chain is also doing interesting things and the brand is about to open a ‘next-generation’ store in Japan.
Fast Retailing has announced it has developed a new denim washing process which will help it save 3.7 billion litres of water by 2020, when the technology will be used to make all jeans sold by the group.
Uniqlo has launched a new campaign to celebrate its upcoming arrival in Amsterdam. Dubbed ‘To A New Everyday', it features seven Amsterdam-based individuals and their shared values with the Japanese retailer.