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Asia will lead spending recovery, Uniqlo CEO Yanai says

Economizing consumers will prefer reliable, quality everyday clothes

Fast Retailing CEO Tadashi Yanai speaks to Nikkei on Dec. 15 in Tokyo. (Photo by Makoto Okada)

TOKYO -- Coronavirus infections are not showing signs of dwindling, and consumers are becoming more economical because of uncertainty about the future. Apparel retailers are struggling with poor sales across the board. Nikkei asked Tadashi Yanai, chairman and CEO of Fast Retailing, the operator of the Uniqlo casualwear chain, about what the consumption environment will be like in 2021. Excerpts from the interview follow.

Q: As consumer confidence falls amid the third wave of coronavirus infections, you will cut clothing prices at your affiliated GU brand.

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