Retail entrepreneur Tadashi Yanai’s wealth, Japan’s richest person, has risen by about $11.8 billion to $35.4 billion thanks to strong sales by Japan’s Fast Retling, the Asian continent’s largest clothing chain, in the last six months to February 2023.
Fast Retling is the parent company of fast fashion chain Uniqlo, which saw revenue rise by more than 20% year-on-year to 1.5 trillion yen, equivalent to $11.1 billion.
Several factors contributed to this, including the reduction of restrictions imposed by the pandemic and the high demand for their winter clothes. Uniqlo’s sales from about 20 countries outside Japan amounted to about 755.2 billion yen, and net profit rose nearly 5% to 153.3 billion Japanese yen, Forbes reported.
The company aims to enjoy global workforce, to promote greater flexibility.
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