Business Services Industry
Japan firm Fast Retailing to pursue high quality, rather than low prices.
Knight Ridder/Tribune Business News, September, 2004
Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Sep. 1--TOKYO -- Fast Retailing Co., a casual-clothing store operator known for its Uniqlo brand, unveiled Wednesday a new business strategy centering on the pursuit of high-quality products, rather than low-priced ones.
The company, which once enjoyed explosive growth based on its low prices, said it has drawn up the new strategy in response to lukewarm consumer response of late.
As a first step, this autumn the company will introduce a new line of fleeces made from spacesuit fabric developed for the U.S. National Aeronautics and Space Administration.
It will also market quality cashmere products made in China's Inner Mongolia Autonomous Region and rare...
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