Word: retailers
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...once superstylish district is rapidly transforming into an outdoor mall of the titans of casual clothing - H&M, Uniqlo, Topshop, Gap, Zara and now Forever 21 - all competing for wardrobe space within a few 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...
...style is still in, and sales at inexpensive fast-fashion and casual-clothing stores have picked up. That's the kind of market that Forever 21 expects will help it reach $2.4 billion in global sales this year, up 40% over 2008's figure. The company thinks that its retail offering, where $100 buys an outfit, a bag, shoes and accessories, fits the Japanese mood right...
...battery of news this past week illustrates the up-and-yet-down nature of the signals we're receiving. Consider that on Wednesday the Commerce Department reported that retail sales fell 0.4% between March and April. Yet at the same time, consumers expressed more confidence about the economy than they have since the fall, according to a much-watched survey released on Friday by Reuters and the University of Michigan...
...wholesale operations in India are under a joint venture with New Delhi-based Bharti Enterprises. The U.S. company's retail presence is restricted to providing back-end support for Bharti's chain of 25 Easy Day grocery stores that opened last year. (Read how Microsoft is following in Wal-Mart's footsteps...
...Although other foreign hypermarket chains are entering the country - British retail group Tesco has a joint venture with India's giant Tata conglomerate, while France's Carrefour is said to be in talks with Reliance - Jain says Wal-Mart is in no hurry to unfurl the Wal-Mart flag nationally. "The easiest thing is to roll out stores, but the most difficult is to sustain and feed them," he says...