Uniqlo Owner Seen Posting 24% Annual Profit Surge on Brand’s Overseas Push

Fast Retailing's Uniqlo sign boards are displayed at a casual clothing store in Tokyo, Japan January 11, 2023. (Reuters)
Fast Retailing's Uniqlo sign boards are displayed at a casual clothing store in Tokyo, Japan January 11, 2023. (Reuters)
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Uniqlo Owner Seen Posting 24% Annual Profit Surge on Brand’s Overseas Push

Fast Retailing's Uniqlo sign boards are displayed at a casual clothing store in Tokyo, Japan January 11, 2023. (Reuters)
Fast Retailing's Uniqlo sign boards are displayed at a casual clothing store in Tokyo, Japan January 11, 2023. (Reuters)

The Japanese owner of casual wear giant Uniqlo is projected to beat its own forecast in what would be a third straight year of record profits as its brand makes inroads in western markets and its business in China recovers.

Fast Retailing's operating profit in the 12 months through August likely rose 24% from a year earlier to 478.3 billion yen, based on the average of 15 analyst estimates compiled by LSEG ahead of the company's earnings on Thursday.

That's marginally higher than the company's 475 billion yen forecast, which it lifted in July citing a strong performance in the second half.

Fast Retailing's shares have been on a tear, reaching a record high this week. Key factors going forward will be sales of fall and winter items in Japan and whether the company can reinvigorate its business in China, according to independent analyst Mark Chadwick.

"Investor attention will turn to whether Fast Retailing's measures in Greater China successfully reverse the earnings decline caused by weak consumer sentiment and increased competition," Chadwick wrote on the Smartkarma platform.

With more than 900 stores in China, Fast Retailing has long been seen as a bellwether for the retail sector in the world's second-biggest economy. COVID restrictions weighed on results there for years, but now the challenge is a sluggish economy that has weighed on consumer confidence.

Greater China CEO Pan Ning acknowledged in July that the market is maturing, with the company scaling back store openings and adopting a scrap and build strategy for underperforming locations.

When COVID lockdowns depressed sales in China, the company focused more on expansions in North America and Europe. Both sectors delivered strong sales and profits through the first nine months of fiscal 2024.

Company founder Tadashi Yanai aims to make Fast Retailing the world's biggest fashion retailer, with the operators of Zara and H&M standing in the way. He believes consumers are more focused on value than luxury in a post-COVID world, a trend that works in Uniqlo's favor.

Yanai, Japan's richest man, is scheduled to speak at the company's earnings briefing on Thursday, as well as Uniqlo president Daisuke Tsukagoshi, whom Yanai has spoken of as a possible successor.

Fast Retailing's shares have climbed 43% so far in 2024, outperforming a 16% advance in the benchmark Nikkei index.



Elie Saab Unveils Luxurious Safari Chic Spring Collection in Paris

 Models wear creations as part of the Elie Saab Spring/Summer 2025 collection presented Saturday, Sept. 28, 2024, in Paris. (AP)
Models wear creations as part of the Elie Saab Spring/Summer 2025 collection presented Saturday, Sept. 28, 2024, in Paris. (AP)
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Elie Saab Unveils Luxurious Safari Chic Spring Collection in Paris

 Models wear creations as part of the Elie Saab Spring/Summer 2025 collection presented Saturday, Sept. 28, 2024, in Paris. (AP)
Models wear creations as part of the Elie Saab Spring/Summer 2025 collection presented Saturday, Sept. 28, 2024, in Paris. (AP)

Lebanese designer Elie Saab unveiled his spring collection on Saturday at Paris’ Palais de Tokyo, elevating the concept of safari chic to luxurious while keeping the camp firmly in check.

Here are some highlights of Saturday's ready-to-wear collections:

Elie Saab takes us on a sultry journey

Saab’s collection blew away any expectations of colonial nostalgia, just like the harmattan gusts he drew inspiration from. Instead, what we got was a mesmerizing journey through the African savannah that felt fresh, vibrant, and completely devoid of tired clichés. This was no ordinary safari chic—Saab took the concept and injected it with his signature luxury, letting it roar in all the right ways while keeping the camp firmly in check.

Right from the start, Saab showed he wasn’t afraid to play with the safari staples—but with a twist. Safari suits, reimagined as roomy linen separates and sleek crepe jumpsuits, traded their usual khaki for the blazing red of fireball lilies, moody elephant gray, and the ochre dust of West Africa. It was a palette that brought the raw, natural beauty of the continent to life without falling into the predictable tropes. These looks weren’t the romanticized garb of the intrepid explorer; they were effortlessly chic, perfectly fitted for today’s cosmopolitan adventurer.

Then came the raffia—oh, the raffia! Saab worked magic with this plant fiber, weaving it into low-slung skirts and minidresses with faint bubble hems that felt light and breezy, yet utterly luxurious. It also made an appearance as fern embroideries on floor-grazing tulle gowns, adding texture and depth that felt delightfully organic. It was these delicate, thoughtful touches that took this collection beyond just a thematic exercise and elevated it to something exquisite.

Hermes’ gentle geometry

Vanhee-Cybulski’s Hermes collection reimagined spring with a palette of warm golden beiges and earthy autumnal hues, a bold choice that immediately set the collection apart. Gentle geometry shaped the garments — myriad squares and architectural forms that fused seamlessly with Hermes signature minimalism. This interplay was reinforced by the striking wooden backdrop, enhancing the atmosphere of sophisticated restraint.

Vanhee-Cybulski leaned into a refined sensuality with sheer mesh trousers that transformed at a flick of a zip and featherweight leather jackets that seemed almost ethereal. These pieces paired athletic ease with luxury, demonstrating her skill in blending delicacy with bold, structured shapes. Utilitarian details, like buckled belts and boxy, pocket-laden shirts, underscored the collection’s grounding in practicality, even amid its more daring expressions of sensuality.

Throughout, Vanhee-Cybulski captured the lightness that spring calls for—luxurious reinterpretations of Hermes’ iconic silk scarves, transformed into breezy shirtdresses and rompers, embodied a carefree spirit ready for sunlit escapes. Warm neutrals dominated, echoing a feeling of being sun-soaked, while her activewear-inspired pieces conveyed a relaxed, summer-ready attitude without compromising on elegance.

The footwear, always a standout for Hermes, carried this ethos further. Sleek riding boots offered a solid foundation to the collection’s grounded luxury, while clog sandals brought a playful, modern twist.

Westwood's controlled chaos

Vivienne Westwood’s spirit lived on in Paris this season, as Andreas Kronthaler brought a masterful interplay of rebellion, history, and glam rock energy to the runway. The spring collection opened with sparkling pants paired with a silky blue bodice, a nod to the late designer’s love of bold, unexpected contrasts—a brilliant start that practically screamed rock ‘n’ roll chic. Kronthaler clearly hasn’t lost his taste for the dramatic, diving headfirst into the kind of fierce, confrontational style that made Westwood an icon.

A giant silver chain, dangling almost absurdly to the model’s knees, set the tone: a clear statement of raw, unapologetic power, in course with the punk ethos of the 80s that still courses through this house’s veins. And there, of course, were the signature Westwood suits and Grecian-style draped dresses—classic shapes that carried a dynamic energy and timeless rebellion, reminiscent of the archival references that have defined Kronthaler’s tenure. These silhouettes bore the same sense of timeless radicalism seen in Kronthaler’s reinterpretations of Westwood’s personal wardrobe last fall, where each garment seemed to transcend fleeting trends.

Clashing checks—a staple of the Westwood lexicon—made their mark, giving the collection an urban, gritty edge that felt distinctly true to the house’s rebellious spirit.

Whimsy had its moment in the shape of a giant tulle headpiece, soaring high and embodying an ’80s bridal punk vision—a dizzying height of contradiction that no one but Westwood’s house could make look so irreverently sophisticated. This playful chaos echoed past seasons, where Kronthaler has embraced an eclectic mishmash of themes—from historical doublets to modern macramé cloaks. This time, however, there was a sense of restraint. It was a more controlled affair, one that saw Kronthaler tightening his narrative, perhaps reflecting a shift toward emotional homage rather than spectacle alone.