Fast-Fashion Giant Fast Retailing Expands Focus into High-end Apparel
With Fast Retailing's same-store-comps and stocks in recent decline, Fast Retailing announced they will now begin to focus on their higher-end apparel lines. Theory, which is owned by Fast Retailing, is several times more expensive than Uniqlo and uses higher quality fabrics and materials in production, will increase their doors in Japan as well as heavily expand into China, where desire for high-end and luxury brands is high. Another Fast Retailing brand PLS+T which is less expensive than Theory and still more expensive than Uniqlo will also expand domestically doubling the amount of doors from 15 to 30 by next August 2011.
Fast Retailing expects sales for both Theory and PLS+T to grow 51% to 84 billion yen this fiscal year and is forecasting growth of 500 billion yen by August 2020.
With brands like Theory, Helmut Lang, Comptior des Cotonniers, and PLS+T do you think Fast Retailing will be as successful in the high-end apparel market as they were in the fashion-fashion market?