Japan
Uniqlo's parent company posts revenue growth
The Japanese-based company posted a 21.4% increase in revenue from September 2022 to May 2023, as compared to the same period of last year, highlighting the performance of Uniqlo abroad in the third quarter
Japan Retail: mixed signs cast a shadow over a clear outlook for the rest of the year
The growth rate of footwear consumer prices has largely outpaced that of the overall prices. This is not a good sign for the footwear sector, as discretionary items are always the first to be discarded by consumers, but it is not all bad news. The truth is consumer confidence has rebound at the start of the year, private consumption has shown some resilience and the return of tourists is a welcoming sign. Perhaps most surprising is the fact that the volume of imports has not been affected by the weakening of the yen. It remains to be seen how the outlook will unfold
Mizuno with record annual revenue
The Japan-based sportswear company announced that its fiscal 2022 revenue grew by 22.8% over the prior year, reaching the “record” amount of 212.0 billion Japanese yen (1.50 billion USD)
Loewe opens first leather goods repair store
The Spanish luxury label has opened in Osaka (Japan) its first store entirely dedicated to the repair and maintenance of leather articles. A leather artisan will be in the store ready to repair and renew damaged products brought in
Asics net sales grow by 45%
The Japan-based sportswear company posted a net sales growth of 44.6% in the first quarter of 2023, as compared to the same period of last year, driven by the rebound of the Asia region
Japan retail: unlocking consumer confidence is key for retail
The volume of footwear imports closed 2022 about 10 percentage points below the 2015 baseline, suggesting that the impact of the imported inflation on prices has been clouding the real performance of retail sales in the category. Both the government and some companies have offered inflation allowances or anti-inflation subsidies, but given the saving Japanese mindset, it can be expected that any additional disposable income will not necessarily be used for discretionary shopping, such as clothing and footwear. To boost consumption, it is therefore needed to unlock consumer confidence, which improved only marginally In February, and appears now to be flattening
VF Corp opens design collective and regional office in Tokyo
The owner of brands such as Timberland and Vans, among others, has announced the launch of the Tokyo Design Collective alongside an office in the city's Harajuku district to boost its creative reach
Asics plans to further grow in India
The Japan-based sportswear company has reported that India saw the highest growth globally in 2022 due to the post-pandemic running and fitness boom
Mizuno's Innovation Centre in full swing
After three years since the announcement of the investment, the Osaka-based sportswear company reported that its Innovation Centre, called Mizuno Engine, is now operating
Japan Retail: apparel and footwear retail will hardly remain safe amidst such troubling waters
The further easing of COVID-19 border control measures brought tourists back to the stores, but the anticipated consumption-led recovery is being curbed by the high wholesale inflation, as the weak yen is inflating the costs of imports. On the other end, if the yen depreciation is fostering exports, the fear of a global economic slowdown is a bearer of bad news. Both the Apparel & Accessories Retail and the Consumer Confidence indicator are currently trending down, and not to increase prices is no longer an option. As for online commerce, now that the pandemic boosting effect is over, the competitiveness between this channel and physical retail is at stake, however, it is yet soon to claim a winner
Asics ventures into the Web3 commerce
The physical running shoes in the ASICS x Solana UI Collection can only be purchased with digital currency. The company said to be showing the future of Web3 commerce with this move
Asics creates lowest ever CO2 emissions sneaker
The Japan-based company has reportedly launched the sneaker with the lowest carbon footprint on the market, which represents a "significant leap forward in its commitment" to achieving net-zero emissions by 2050
Asics launches first 3D printed model
The Japan-based sportswear company, which is making its debut within 3D, introduced the Actibreeze 3D sandals to aid recovering athletes in the After Performance phase
Uniqlo owner raises outlook
The Japan-based Fast Retailing posted record profit results in the third quarter of fiscal 2022, with strong performances in every market except for Greater China, raising its outlook in result
Japan Retail: imported inflation troubles retail despite positive signs on consumer mood
Despite positive signs regarding the consumers’ mood, which is leading the BoJ to focus on boosting domestic demand, retailers are facing imported inflation unseen for decades. So, as the yen sinks, it is more accurate to wonder whether Japanese companies’ margins can resist for much longer to fully pass on rising costs to consumers. In addition, the sanctions imposed following Russia’s invasion of Ukraine will certainly take a toll on retail, alongside persistent supply chain disruptions caused by the pandemic, even as the country moves away from those times. Since expenses on energy and food cannot be readily cut, the slack demand for footwear already observed is far from being a surprise-
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