TOKYO -- Major apparel companies in Japan are downsizing their brand portfolios as they re-evaluate unprofitable businesses amid continued sluggish sales, especially at department stores and shopping centers.
Eight big players, including Onward Holdings, TSI Holdings, Sanyo Shokai and World Co., are seen dropping more than 50 brands over fiscal 2015 and fiscal 2016, according to a tabulation of their plans by The Nikkei. This equals nearly 20% of the total. Four of the eight will pull out from more brands in fiscal 2016 than the year before.
