TOKYO — Fast Retailing Co. Ltd. said Thursday it plans to shutter five of its small women's apparel brands in a move to boost the efficiency of its other businesses.
The corporate parent of Uniqlo said it has decided to discontinue the product lines as of early next year. The brands concerned, which include Zazie and Enraciné, are small lines targeting young Japanese women. Cabin, the division that manages the brands, will be merged into another Fast Retailing subsidiary: Link Theory Japan.
Fast Retailing said the restructuring will generate 3 billion yen, or about $34 million, of extraordinary losses for the fiscal year ending August 31. A spokesman said those losses will "impact" the company's current profit target, which it already cut earlier this month on uneven sales of spring items.
The company said just two weeks ago it was expecting its full-year net profit to rise 35.6 percent to 67.5 billion yen, or $774.82 million at current exchange.
Fast Retailing said it had spent the last few years trying to make Cabin a significant part of its women's business but ultimately decided to liquidate the brands.
"The current business climate in the women's wear retail industry continues to be unfavorable, due to the changing lifestyles and tastes of the young female consumers," the company said.
Cabin's retail network consists of about 198 stores in Japan. Fast Retailing said it will examine Cabin's current store locations and may switch some of them over to other Fast Retailing brands. The spokesman specified that these spaces are unlikely to become Uniqlo stores due to their smaller size.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty