Fast Retailing Co (9983.T), Asia's largest apparel retailer, is sticking to its Uniqlo sales target in Japan, despite a weak start to the fiscal year due to a lack of new products and warm autumn weather, its top executive said. Chairman and Chief Executive Tadashi Yanai told Reuters in an interview on Tuesday that the firm had shrunk the product lineup too deeply at its Uniqlo casual-clothing chain as it focused on core products such as its HeatTech thermal underwear and down jackets.
Toray Industries Inc., which produces the popular Heattech, a heat-retaining fabric used in clothing sold at Uniqlo outlets, will decrease the percentage manufactured in China from 80 percent to 50 percent by 2015. Production will be moved to other Asian nations because production volume in China is fast approaching capacity and also because personnel expenses in China have shot up.
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