Uniqlo to increase prices as yen falls to 20-year low

A weakened yen will see Japan’s Fast Retailing increase prices at Uniqlo.

With added pressures from sourcing more expensive raw materials and other logistical issues, Uniqlo’s fall collection will see increases in some of its core items.

Various newspapers reported the price of some fleece products rising to 2,990 yen (about 21 euros) in contrast to the 1,990 yen of the previous year. Staples including its men’s Ultra Light Down Jacket will be priced at 6,990 yen up from 5,990 yen; a women’s cashmere crewneck will rise to 9,990 yen from 8,990 yen. Currently the Japanese currency has fallen to a two-decade low against the dollar.

Uniqlo, which previously increased the prices of some items, plans to improve the design and functions of its garments and then relaunch them towards the summer season, increasing their market value. In April Fast Retailing CEO Tadashi Yanai said raising prices was not easy due to the complicated economic situation and pressure on household spending.

This news comes after a year of stellar growth for Uniqlo, which boosted Fast Retailing to close 2021 with revenue of 2,100 billion yen.