Uniqlo to raise prices for spring, summer clothing

REUTERS/Issei Kato/File Photo
Tadashi Yanai, chairman and chief executive officer of Fast Retailing Co., operator of Japan’s Uniqlo clothing outlets, attends a news conference to mark the unveiling of the company’s new headquarters building called UNIQLO CITY TOKYO in Tokyo, Japan March 16, 2017.

Tokyo (Jiji Press) — Fast Retailing Co.’s Uniqlo plans to raise prices for some of its clothing items for spring and summer next year, sources familiar with the matter told Jiji Press on Tuesday.

The move comes in response to soaring materials costs and a weak yen, which are pressuring the Japanese company’s financial performance, the sources said.

Uniqlo this year raised prices substantially for its flagship products for autumn and winter, including popular fleece products.

The company plans to start raising prices for spring and summer products in mid-January. For example, the price of a stretch jacket will be raised to ¥6,990 from ¥5,990.

It plans to keep prices for some products unchanged, including its AIRism functional underwear series.

At a press conference in October, Fast Retailing Chairman and CEO Tadashi Yanai said that it would be impossible to keep prices for autumn and winter products unchanged due to the yen’s depreciation and higher materials costs.