Japanese giant Fast Retailing has reported its consolidated results for the latest half year and said that it exceeded expectations as revenues were higher than predicted and its profits rose sharply.
The co-founder of the Experienced Capital fund and ex-SMCP director has joined the board of the Florentine label, currently in the midst of a transition phase. Future CEO Marco Gobbetti will start in January 2022.
Fast Retailing released H1 results on Thursday, plus its Japanese Uniqlo performance for March. Both reports showed the business is doing well in general, even if the H1 figures showed some smaller brands struggling.
Uniqlo owner Fast Retailing may have taken a 42% pandemic-linked hit in its latest year but it’s forecasting a 60%+ recovery in its operating profit in the current financial year that ends next August.
Fast Retailing is doing all it can to maximise sales opportunities for its brands and said Thursday that it’s adding sales space for its Theory and Comptoir des Cotonniers labels inside its Uniqlo Tokyo global flagship.
The CEO of Japanese fashion and retail group Fast Retailing (owner among others of Uniqlo and Comptoir des Cotonniers), said that the group’s top job is better suited to a woman, according to Bloomberg.