Uniqlo’s chief says fast fashion must change with the times

AP Business Writer

TOKYO (AP) — Japanese clothing retailer Uniqlo is celebrating its 40th year since its founding with booming sales that recently topped 3 trillion yen, or about $20 billion, annually for the first time. The name Uniqlo came about by putting together the words for “unique” and “clothing.” The chain’s basic concept is “LifeWear,” or everyday clothing. Uniqlo stores now total more than 2,500 worldwide, including a global flagship that opened Oct. 25 in Tokyo’s Shinjuku district. Uniqlo’s parent Fast Retailing Chief Executive Tadashi Yanai spoke recently to The Associated Press about his determination to keep his success going for another 40 years.