The coronavirus pandemic is shredding the global apparel industry, stripping hundreds of billions of dollars from sales and thrusting big names like J.Crew into bankruptcy protection.
“Asia is going to be much faster to bounce back in terms of willingness to spend, which will favour operators with a big presence in Asia,” said Honor Strachan, retail analyst at research firm GlobalData.
Of Uniqlo’s 2,260 stores globally, just 51 are in the United States. Its inability to make strides in the world’s biggest clothing market has long been seen as an Achilles heel, but for the time being it may prove a blessing. “The quality is good and designs are classic,” said Jiang Xin, an internet company employee in Beijing, one of many Chinese shoppers interviewed by Reuters who said they felt Uniqlo quality was a cut above comparably priced brands.
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