Uniqlo and Toray renew their collaboration for five years
The retailer and the Japanese textiles group, who have been partners for the last ten years, announced the renewal of their collaboration for the next five years. This new stage will be marked by new joint projects.
The two companies are planning to work together to set up an end-to-end model based on the Internet of Things, on the shortening of manufacturing timelines, the strengthening of the tool's internationalisation, product optimisation by supply centre and the development of manufacturing plants in Greater China. At the same time, they will strive to boost the comfort and functionality of Uniqlo products, search for new added benefits and develop new ranges dedicated to sport.
In the fiscal year closed at the end of August, Uniqlo recorded revenues of JPY1,680 billion (€12.7 billion), equivalent to a 22% growth. Operating income rose to JPY164.5 billion (€1.2 billion). This figure is below the forecast of JPY200 billion, a threshold which remains the target for the current fiscal year. To achieve it, Uniqlo relies on a network of 841 stores in Japan and 798 stores around the world.
For its part, Toray generated 43% of its revenue through textile operations. At the end of September, after the first six months of the fiscal year, Toray reached a revenue of JPY1,028.5 billion (€7.8 billion), compared to JPY948 billion in the first six months of the last fiscal year.
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