LOOK: Uniqlo unveils Jollibee shirts

MANILA - Japanese clothing brand Uniqlo has revealed its collaboration with local fastfood giant Jollibee.

The limited edition Uniqlo T-shirts or UT (a range of seasonal printed T-shirts) come in six designs and are available in all 23 of the brand's stores in the Philippines.

They will also be sold in Uniqlo Indonesia, Malaysia, and Thailand.

The collection features prominently Jollibee's iconic mascot and logo. It has drawn generally positive reactions from netizens, but some expressed disappointment over the lack of "creativeness."



According to a report from the Philippine Star, Uniqlo's tie-up with the leading Filipino company is the first in a series of partnerships with other popular local brands.

Uniqlo, for its UT collection, has previously collaborated with global brands such as Disney, Coca-Cola, and Star Wars.

source: www.abs-cbnnews.com

Tokyo's Nikkei stock index breaks 20,000 level

TOKYO - The Tokyo Stock Exchange's benchmark Nikkei index on Friday briefly broke through the psychologically important 20,000 level last seen 15 years ago.

The Nikkei 225 index reached 20,006.00 in the first few minutes of trade, rising 0.34 percent from Thursday following gains on Wall Street and a stronger dollar on an encouraging US jobs report.

It was the first time that the Nikkei had hit 20,000 since April 2000.

The index later came off its high, to sit at 19,917.62, a 0.10 percent loss from Thursday.

The early rise was heavily influenced by heavy-weighted Fast Retailing, the operator of fast-fashion brand Uniqlo, whose shares were up 2.62 precent after the group announced strong half-year earnings.

Strategists are upbeat over the outlook of stock prices on expectations of good earnings at Japanese companies, while acknowledging a short-term overshoot.

"When we look back on this moment, the 20,000 figure should just be a stop along the road," said Juichi Wako, a senior strategist at Nomura Holdings.

"It wouldn't be surprising if better-than-expected earnings lift the Nikkei to 21,000 or 22,000 by year's end.

"However, above the 20,000 mark, we might begin to hear voices that stocks are a bit overvalued," he told Bloomberg News.

The dollar held steady early Friday after rising on an encouraging US unemployment claims report.

The greenback was at 120.58 yen on Friday, hardly changed from 120.59 yen in New York late Thursday but up from 120.28 yen in Tokyo earlier Thursday.

The US Labor Department reported Thursday that the number of first-time unemployment claims rose last week, but claims filed in the past four weeks fell to a nearly 15-year low, suggesting a stronger labour market.

The robust data stoked speculation about the Federal Reserve's plan to raise ultra-low interest rates, boosting the dollar in a positive move for Japanese exporters.a

The euro bought $1.0661 and 128.56 yen on Friday against $1.0659 and 128.55 yen in US trade.

On Thursday big gains in petroleum stocks lifted the US equity market as investors bet on more large energy mergers following Royal Dutch Shell's huge takeover of BG Group.

The Dow Jones Industrial Average rose 0.31 percent while the broad-based S&P 500 gained 0.45 percent.

source: www.abs-cbnnews.com

Uniqlo to Chinese suppliers: Improve work conditions

TOKYO - Uniqlo-owner Fast Retailing Co Ltd has told two suppliers in China to improve factory working conditions after an inspection by the Japanese apparel retailer found problems, including long working hours.

The move comes after SACOM, a Hong Kong-based advocacy group, issued a report saying employees at Dongguan Tomwell Garment Co Ltd and Pacific (Pan Yu) Textiles Ltd were working excessive hours in unsafe conditions, including high temperatures, poor ventilation and floors covered with sewage.

Factory safety at suppliers to global clothing brands has been under particular scrutiny since the 2013 collapse of a factory in Bangladesh that killed more than 1,100 workers.

In China, poor working conditions have been widely blamed for contributing to a number of suicides in recent years, such as at factories of Apple Inc supplier Hon Hai Precision Industry Co Ltd, also known as Foxconn.

"Respecting human rights and ensuring appropriate working conditions for the workers of our production partners are top priorities for Fast Retailing, and in this we are completely aligned with SACOM," Yukihiro Nitta, group executive responsible for corporate social responsibility, said on Thursday.

The company said it had told Dongguan Tomwell and Pacific (Pan Yu) to make various improvements at their factories and in regulating working hours. It also instructed Dongguan Tomwell to establish a workers' union, hold elections and organise its first assembly in March, it said.

However, its inspection found discrepancies with several points in SACOM's report regarding Pacific (Pan Yu), including that the cause of a worker's death was electrocution. It said it would continue its inspection and seek talks with SACOM.

Dongguan Tomwell makes clothes for Uniqlo and Pacific (Pan Yu) supplies garment factories, including Dongguan. Dongguan Tomwell's parent company, Luen Thai, said it took fair treatment of workers very seriously.

In response to the SACOM report, it said it was "committed to establishing strict measures to ensure that our operations are in accordance with UNIQLO's Code of Conduct for Product Partners" and that it would "make ongoing efforts to prevent excessive overtime. In addition, an independent system will be set up to review all aspects of this issue and to closely monitor the progress."

Pacific (Pan Yu) did not answer calls seeking comment.

Fast Retailing also said it would improve its monitoring system for manufacturing partners including beefing up measures to check overtime hours, tracking employee accidents and strikes, and introducing a system to monitor textile factories that supply garment plants.

Nitta said Fast Retailing would check progress within a month along with third parties including auditors.

source: www.abs-cbnnews.com

Why US is key to Uniqlo's global aspirations

NEW YORK - Many of the details of Uniqlo's aggressive US expansion still need to be worked out, but at least one thing is clear: the campaign will start on the coasts.


The Japanese apparel chain, known in its home market for its cheap chic clothing basics, has so far confined its US adventure to cities like Boston, San Francisco and Los Angeles.

But a broader US presence will be inevitable as the company blankets the country as part of its ambition to become the world's biggest specialty apparel retailer. Uniqlo will grow from fewer than 10 US stores last year, to about 40 by the end of 2014, to 200 by 2020.

"We will have a much larger footprint, which has to include the middle of the country," said Larry Meyer, chief executive of Uniqlo USA.

So far, Uniqlo's brand recognition is strong in the Northeast, where consumers know its flagship US stores in New York City, and in the West Coast, where a large Asian population already recognizes the company.

Uniqlo, a unit of Fast Retailing Co., is part of a wave of giants remaking global apparel. This group includes Spain's Grupo Inditex, parent of Zara; Sweden's Hennes & Mauritz (H&M); and US chain Gap, all of which have greater sales than Uniqlo. For now.

The United States, along with China and Southeast Asia, are the key growth markets identified by founder and chief executive Tadashi Yanai, ranked Japan's second-richest man by Forbes.

Top player in industry segment?

Yanai aims to increase global sales to five trillion yen (nearly $50 billion) by 2020, about a five-fold increase from 2013 sales and a sum that would make it the biggest player in this segment.

Yanai's philosophy "and my philosophy is, 'If you think small, you get no higher. So you might as well think big,'" said Meyer, a retail industry veteran who joined Uniqlo in January 2013.

Uniqlo is especially known for basics like t-shirts that may fetch $12 and undergarments that cost less than half of what they would garner at department stores.

The company also prides itself on innovations like "heattech," a thin fabric that keeps heat from escaping the body, and "performance wear," athletic gear donned by tennis star Novak Djokovic that is sweat and odor-resistant.

Morningstar analyst Jaime Katz said Uniqlo's challenges include attracting enough customers at especially pricey locations like Fifth Avenue in Manhattan. She also cites the difficulty of breaking into a new market where companies like Gap and H&M are already established.

But Katz sees an appeal in Uniqlo.

"It's more a color schematic than anything else," Katz said. "It's the same thing offered in 100 different colors."

"Everybody needs the basics, everybody needs consistent product, and that's what they tend to offer."

Meyer said its US stores are "on the road to profitability" while the company is in expansion mode.

The company's items will be manufactured at the same China sites and moved through the company's global supply chain. The designs will be identical to those in Japan, although Uniqlo plans sizing specifications for the US market.

"There's more than just size in size," Meyer said. "It's a question of how wide are the shoulders, how wide is the rear."

"Clothing sizing is shockingly complex."

source: www.abs-cbnnews.com