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The Journal
7 days ago
- Business
- The Journal
A Uniqlo store in Dublin may be "on the agenda"
POPULAR JAPANESE STORE Uniqlo has announced it will be opening eight new stores in Europe, and Irish shoppers are hoping the Dublin will be included. The store, which is known for selling high quality but affordable basics, already has stores in ten European countries, including England and Scotland, but has not yet revealed the location of the new stores. Shoppers have repeatedly expressed their desire for the shop to come to Dublin, something which a commercial real estate expert said is 'on the agenda'. Earnings from Uniqlo's parent company, Fast Retailing, make them world's third biggest clothing manufacturer and retailer after Zara owner Inditex and Sweden's H&M. Irish fans of the brand can currently only order clothes from Uniqlo online, but for delivery under €70, shipping costs €9.95. Advertisement The specialist, who works for a large commercial estate agent, told The Journal Uniqlo has 'looked' at opening a Irish branch of the store, but has not yet found a building large enough. Uniqlo shops stock men's, women's and children clothing, and are generally housed in a two story commercial building. 'I know they've looked, the difficulty is the size of building, I don't know if anything has been agreed on', the expert said. The brand has over 2,500 location, including flagship stores in London, Amsterdam and Milan. The commercial estate agent said that Ireland is on the agenda as a capital European city, but it is in a competitive environment with other cities across Europe, many of which have larger populations. They highlighted that trading out of listed buildings is difficult for retailers as the structural integrity of the building must be maintained. For this reason they said Uniqlo may not find a suitable space in the General Post Office, if plans to make the GPO a cultural, retail and office hub went ahead. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
CNA
12-07-2025
- Business
- CNA
Gaia Series 94: UNIQLO's "Secondhand Clothing Project"
UNIQLO's bold secondhand clothing venture weaves sustainability with business, confronting challenges and redefining reuse. At the heart of the fast fashion landscape, UNIQLO is shifting its trajectory toward sustainability by exploring the potential of secondhand clothing. The latest episode of Dawn of Gaia follows the company's effort to make reused garments a viable business, treating this transformation not just as an environmental response, but a bold commercial experiment. In Paris, the UNIQLO Paris Opera store stands across from the historic Opera House. Though prices are more than 50 per cent higher than in Japan, customers remain loyal. A popular hoodie that costs around 4,000 yen (S$34.30) in Japan sells for approximately 6,400 yen in France. 'I always buy the same products at UNIQLO. The price is cheaper than other stores, and the product is great,' one shopper explains. Another adds, 'It's great quality for the price and great customer service.' Today, UNIQLO operates 2,541 stores across 26 countries and regions, and Fast Retailing, its parent company, reported revenue of 3.1038 trillion yen. Chairman Tadashi Yanai has bigger ambitions. 'A 10 trillion-yen target is not unrealistic at all,' he says. 'Changing clothes, changing norms, changing the world... this is the challenge we will continue to take on.' But the fashion industry's environmental record is hard to ignore. Global garment production has doubled in the past 20 years. But at the same time, the number of clothes that are thrown away have similarly increased. In Japan alone, about 1.5 billion garments go unsold each year and are often discarded. With the European Union preparing to ban the disposal of unsold clothing from 2026, the urgency to innovate has never been greater. At the Sendai warehouse, around 10 million used garments are collected annually. These clothes are sorted by hand and then donated to 81 countries and regions. Yet UNIQLO is determined to go further, not just recycling but creating a profitable business model around reuse. Tasked with launching this new venture is third-year employee Yoko Otaka. She is responsible for selecting and pricing garments for resale. But balancing cost and perceived value proves tricky. Uniqlo's clothes are already priced affordably, add to that laundry and shipping cost, it's hard to make a profit without increasing costs. But at the same time, as Otaka notes: 'Unless it's 1,000 yen, it might not feel like a bargain'. To add value, UNIQLO partners with Komatsu Matere, a dyeing factory in Ishikawa with over 80 years of history. Selected garments are dyed using a unique pressure chamber method. 'This dyeing method really brings out the charm of secondhand clothing,' says Otaka. 'That's why we chose this 'Gamedye' technique to attain these goals.' The Setagaya-Chitosedai store in Tokyo becomes the first test location. Items, including denim priced at 2,000 yen, are displayed in a way that encourages discovery. 'Grouped by colour but with variety within each group, so customers can still enjoy a broad selection,' Otaka explains. 'That gives it a slightly different feel from your typical UNIQLO store.' On March 29, test sales begin. Ayaka Enomoto from the Sustainability Department says to customers, 'Each piece is one-of-a-kind, a once-in-a-lifetime find, so please do have a look.' Early reactions are positive. 'Kind of like a secondhand clothes shop, but since it's UNIQLO recycling, it feels a bit more reassuring,' says one customer. Still, challenges surface quickly. At the Tenjin store in Fukuoka, which attracts a different demographic, issues around sizing become clear. 'A women's large is not the same as a men's large,' a customer points out. Another says, 'This is a women's medium?' with disbelief. Store staff also report that shrinkage often makes size labels inaccurate. 'Some pieces shrink one or two sizes,' one staff member notes. 'So using the original size label can actually cause more confusion.' In response, Otaka and her team begin remeasuring garments, starting with body width. 'We're figuring out what is the best method to manage size and colour,' she says. Clothes are now sorted by how far they reach on a measuring mat, and markers are colour-coded for easy reference. Despite such tweaks, the Setagaya store underperforms. In the first 20 days, it sells 334 items for a total of 680,000 yen, falling short of Otaka's target of 300 to 400 items per week. Koji Yanai, director of Fast Retailing, points out, 'It doesn't really feel like 'us'. It comes off as just a secondhand clothing shop.' The team regroups, seeking to address key concerns. One persistent issue is cleanliness. 'Some items still have a bit of a lingering smell,' a staff member reports. Back at UNIQLO's Shinonome factory, a special detergent blend is developed. 'It removes body oils from the fabrics without damaging weakened fibres,' explains knitwear specialist Mr Miyamoto. The results are promising. 'It used to be so flat. Now it's fluffy again,' one tester observes. 'The smell is... completely gone.' In October, the Maebashi Minami IC store is selected as a new trial site. This time, pricing is reviewed. Items once sold at 3,000 yen are reduced to 2,000 yen. 'Though profit shrinks due to high costs, they prioritised getting more hands on quality garments,' the narrator explains. The bold pricing strategy pays off. 'At 1,200 yen, well… it's quite affordable,' a customer comments after buying a shirt. 'Only UNIQLO could pull this off.' An unexpected insight emerges when smaller garments, shrunk beyond adult use, find a second life as children's wear. A mother comments, 'Actually, it's a perfect fit.' Signs featuring child models are added, and demand follows. 'There was demand in an unexpected place,' Otaka reflects. With all three test stores turning a profit, the project is handed over to the Sales Department in April for full commercialisation. Still, questions remain. 'Here in the 21st century, it's clear that chasing profit alone won't sustain a business,' Otaku muses, 'What exactly should UNIQLO secondhand clothing be?' Otaka asks. 'We're still figuring it out.' The episode closes with Otaka musing, Honestly, that's what I find really difficult right now. It's what I'm thinking about every day.' Her words encapsulate UNIQLO's dilemma: balancing the expectations of a global brand with the demands of a planet in crisis.
Business Recorder
12-07-2025
- Business
- Business Recorder
Nikkei reverses course to end lower
TOKYO: Japan's Nikkei share average surrendered early gains to close lower on Friday as sharp declines in Fast Retailing led technology stocks to erase their gains. The Nikkei slipped 0.19% to 39,569.68 after rising as much as 0.8% earlier in the session. The index fell 0.6% this week. The broader Topix rose 0.39% to 2,823.24. Fast Retailing tanked 6.93% after the Uniqlo brand owner said on Thursday higher US tariffs would start impacting its US operations significantly from later this year and that it plans to raise prices to mitigate the blow. 'Investors were worried about Fast Retailing's outlook for the next fiscal year. Still, gains of technology stocks supported the index,' said Kentaro Hayashi, senior strategist at Daiwa Securities. The market also sold stocks as soon as the Nikkei approached the psychologically important level of 40,000, strategists said. Chip-related Advantest and Tokyo Electron rose 0.71% and 0.9%, respectively, to track a 0.75% gain in the Philadelphia SE Semiconductor Index overnight.
Malaysian Reserve
11-07-2025
- Business
- Malaysian Reserve
Uniqlo owner's profit misses estimates on weak China sales
FAST Retailing Co. reported third-quarter earnings that missed estimates, as weaker sales in China weighed on the Japanese apparel maker's performance. Operating profit was ¥146.7 billion ($1 billion) in the three months ended May, trailing the ¥150 billion average of analyst estimates compiled by Bloomberg. Net income came in at ¥105.5 billion during the period. Revenue in mainland China declined by approximately 5% for the third quarter from a year earlier, while operating profit decreased by around 3%, the company said. The apparel maker had in April raised its full-year forecast, counting on demand for its Uniqlo brand of clothing in newer markets beyond the traditional strongholds of Japan and China. Still, the retailer kept its full-year operating profit forecast of ¥545 billion. The sales drop in China was due to weaker overall consumer sentiment and continuation of low temperatures through early May, Chief Financial Officer Takeshi Okazaki said in a post-earnings briefing Thursday. The company, which is overhauling its China operations, is beginning to see the impact, he said. 'We are implementing a scrap and build strategy to improve operational efficiency of each, individual stores,' Okazaki said. 'We are tailoring our product assortment and store layouts to suit each region. Some stores are seeing 1.5 times higher sales.' Operating profit of overseas Uniqlo business rose 1.5% to ¥72.1 billion for the three months ended May, while operating profit for the brand in Japan rose 4.7% to ¥52.9 billion for the period, it said. Fast Retailing released its earnings after markets closed in Tokyo. Its stock has dropped around 13% this year, partly weighed down by President Donald Trump's tariffs. Earlier this week, Trump said he will slightly raise across-the-board tariffs on Japan to 25% starting on Aug. 1. Still, Fast Retailing revised the impact of US tariffs on the company's operating profit to 1% for the second half of the year. Previously in April, it said the impact was approximately 2% to 3%, based on the assumption that they remain at the previously announced level. The company is closely monitoring the situation and the balance between price and value of products for US consumers to maintain sustainable business, while securing profits, Okazaki said. –BLOOMBERG
Fashion Network
11-07-2025
- Business
- Fashion Network
Uniqlo owner's profit misses estimates on weak China sales
Fast Retailing Co. reported third-quarter earnings that missed estimates, as weaker sales in China weighed on the Japanese apparel maker's performance. Operating profit was ¥146.7 billion ($1 billion) in the three months ended May, trailing the ¥150 billion average of analyst estimates compiled by Bloomberg. Net income came in at ¥105.5 billion during the period. Revenue in mainland China declined by approximately 5% for the third quarter from a year earlier, while operating profit decreased by around 3%, the company said. The apparel maker had in April raised its full-year forecast, counting on demand for its Uniqlo brand of clothing in newer markets beyond the traditional strongholds of Japan and China. Still, the retailer kept its full-year operating profit forecast of ¥545 billion. The sales drop in China was due to weaker overall consumer sentiment and continuation of low temperatures through early May, Chief Financial Officer Takeshi Okazaki said in a post-earnings briefing Thursday. The company, which is overhauling its China operations, is beginning to see the impact, he said. 'We are implementing a scrap and build strategy to improve operational efficiency of each, individual stores,' Okazaki said. 'We are tailoring our product assortment and store layouts to suit each region. Some stores are seeing 1.5 times higher sales.' Operating profit of overseas Uniqlo business rose 1.5% to ¥72.1 billion for the three months ended May, while operating profit for the brand in Japan rose 4.7% to ¥52.9 billion for the period, it said. Fast Retailing released its earnings after markets closed in Tokyo. Its stock has dropped around 13% this year, partly weighed down by President Donald Trump 's tariffs. Earlier this week, Trump said he will slightly raise across-the-board tariffs on Japan to 25% starting on Aug. 1. Still, Fast Retailing revised the impact of US tariffs on the company's operating profit to 1% for the second half of the year. Previously in April, it said the impact was approximately 2% to 3%, based on the assumption that they remain at the previously announced level. The company is closely monitoring the situation and the balance between price and value of products for US consumers to maintain sustainable business, while securing profits, Okazaki said.
