Fast Retailing, the parent company of Uniqlo, announced it will be raising prices on select Uniqlo items in international markets, citing higher costs for materials and manufacturing. The company said the move is necessary to maintain quality and profitability as inflation and supply chain pressures continue to affect production.
Despite the price hike, Uniqlo has seen strong growth overseas, helping the company report a 12.2% profit increase for the first nine months of its fiscal year. Total operating profit hit 355 billion yen (around $2.19 billion USD), driven by strong demand in Asia and North America.
While the brand plans to keep prices steady in Japan for now, international shoppers can expect to see higher price tags on some products in upcoming collections.
