Word: japanned
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...hence in demand for its exports, Germany itself is facing a tremendous slowdown. The government now predicts that its economy will contract by 6% this year, much more than the economies of the U.S. or Britain, and on a par with the baleful prospect for that other exporting powerhouse, Japan. The government of Chancellor Angela Merkel is pumping $108 billion into the economy, but after an intense debate it has resisted international pressure to do more, saying it wanted to evaluate existing plans before adding new ones. But it isn't just officials in Berlin who might spend time...
...French have 30 days of government-mandated paid leave per year. That compares with 20 in the U.K., 10 in Japan and zero...
...hundred meters of one another. Expensive Japanese boutique stores are receding to the backstreets. Retail analysts say that Japanese consumers are continuing to spend in the recession, but have gone considerably down-market to less costly items. As a result, fast fashion "is a hot issue in Japan's fashion industry, especially after the entry of H&M," says Dairo Murata, a retail analyst at Credit Suisse in Tokyo. Luxury-brand sales in Japan are expected to decline 10% in the first half of the year compared with sales in the same period in 2008. (See the world's most...
Tokyo's Harajuku district is where to find Japan's fashion-forward youth. Every weekend, sidewalks disappear under a frenzy of shoppers looking for new trends. The latest: fast-fashion retailing. During the Golden Week holiday in early May, typically a shopping extravaganza, Los Angeles-based chain Forever 21 debuted its flagship store in Japan. Harajuku girls lined up on five floors full of clothes, shoes and accessories in enough of a dizzying array to make any young woman swoon. It wasn't the first time the giants of cheap chic had stormed Tokyo. Last November about 2,500 shoppers...
...Forever 21 hopes the new store is just the beginning. The chain now has 460 stores in 13 countries, after launching last year in Thailand, South Korea and China. Lawrence Meyer, Forever 21's executive vice president, says the firm plans to open more than 100 stores in Japan. The recession isn't a deterrent. "Woman always wants to shop," says Wedda Uyeda, an adviser to Forever 21 on the Japanese market. "You want to have the fun of shopping, like in a candy store. I don't think that any of the Japanese companies really realize that." (See pictures...