Uniqlo parent Fast Retailing Co Ltd on Wednesday said it would raise wages by as much as 40%, focusing on its home market of Japan, where salaries have been under downward pressure for years.
Fast Retailing's fashion chain Uniqlo, at a shopping complex in Beijing, China May 24, 2020. REUTERS/Florence Lo/File Photoon Wednesday said it would raise wages by as much as 40%, focusing on its home market of Japan, where salaries have been under downward pressure for years.
Uniqlo's ability to meet Japanese consumers' zealous demand for both relatively high quality and low prices has made it known for its "cosupa" - cost performance - turning the maker of 2,990 yen fleece jackets and 3,990 yen selvedge jeans into a global retailer and making founder Tadashi Yanai Japan's richest man.
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