The Japanese fashion brand and retailer, whose products are sold globally under the Uniqlo and Gu labels, says tariffs will have an impact on global economies, but the US may suffer the greatest impact.
At the sidelines of a Uniqlo event in New York City, CEO of Fast Retailing Tadashi Yanai, reiterated his thoughts on the potential economic damage from wide-ranging tariffs imposed by US President Donald Trump.
As reported by Reuters, Yanai said he feared the world “could go bankrupt” adding "America is the one that could suffer the most," without elaborating further.
Fast Retailing did not return a request for an update on the impact of the tariffs on its business, when approached by Just Style.
However, in July, when it announced its third-quarter results, Fast Retailing said it expected tariffs to have a roughly 1% impact on the consolidated business profit in the second-half of 2025.
Meanwhile, Uniqlo is expected to gain market share in the Asia-Pacific market between now and 2028, alongside Adidas, according to GlobalData.
Japan’s Uniqlo is expected to have gained 0.1ppts in market share in 2024, overtaking Nike as the top brand in the Asia-Pacific region. Its success is due to its high-quality and functional yet affordable clothing.
The brand’s emphasis on minimalist designs, versatile basics and innovative materials like HeatTech and AIRism are also expected to appeal to shoppers seeking value for money.
