BILLIONAIRE KING OF MILLENNIAL FAST-FASHION TELLS TRUMP TO SHOVE IT

[Judi Lynn]

Uniqlo’s Tadashi Yanai has responded to the president’s threats with a threat of his own.

BY BESS LEVIN
MARCH 31, 2017 5:34 PM


As is becoming increasingly clear to everyone but Donald Trump, yelling at people (or businesses or countries) over Twitter is not a wholly effective strategy for governance. Despite Trump’s threats, American jobs are continuing to pour across the border into Mexico, with Illinois Tool Works Inc. leaving Mazon, Illinois, this month for Cuidad Juarez; Triumph Group reducing its presence in Spokane, Washington, and shifting production to Zacatecas and Baja California; and T.E. Connectivity closing its plant in Pennsauken, New Jersey, for warmer climes in Hermosillo. Now, the owner of Fast Retailing Co., which owns the wildly popular Uniqlo, has said it will pack up its things and move to Japan if Trump doesn’t drop his protectionist racket. Per Fortune:

Tadashi Yanai doesn't like being given an ultimatum by Trump. “If I was directly told to [make all of our clothes in the U.S.], I will withdraw from the United States,” Yanai told Japanese newspaper The Asahi Shimbun this week when he was asked about Trump's Made in the U.S.A push.

Uniqlo currently has 51 stores in the U.S. Yanai said the company plans to open at least 20 more stores this year, although it's watching what Trump and Congress do on trade. Yanai doesn't want to see a tax on foreign imports to the U.S. He argues any sort of tariff would raise costs and be bad for shoppers.

Uniqlo is the latest foreign company to warn that there will be consequences from any moves to curb foreign trade. And some experts worry that if Uniqlo and other companies pull out of America, that could make life even tougher for many struggling shopping malls. Uniqlo and other fast-fashion chains like Forever 21, Zara, and H&M are actually doing reasonably well while many traditional retailers such as Macy's, Kohl's, and Sears struggle. “Not only is Uniqlo a major retailer and employer in the U.S., it is also a major tenant of landlords in a landscape of retail distress,“ noted Peter Boockvar, chief market analyst at the Lindsey Group in Virginia in his morning note on Friday.

More:
http://www.vanityfair.com/news/2017/03/uniqlo-tells-trump-to-shove-it

[PsychoBabble]

1. In virtually every city I travel to, half of the core retail areas are ghost towns, or close to it

Malls are closed ... or might as well be. Kmart and Sears are on life support.

Exactly who/what does the GOP think is going to replace this consumer > profit business sustainability link? As he said ...

if Uniqlo and other companies pull out of America, that could make life even tougher for many struggling shopping malls. Uniqlo and other fast-fashion chains like Forever 21, Zara, and H&M are actually doing reasonably well while many traditional retailers such as Macy's, Kohl's, and Sears struggle. “Not only is Uniqlo a major retailer and employer in the U.S., it is also a major tenant of landlords in a landscape of retail distress,“

[msongs]

2. so does this guy make his stuff in the USA or is it all from china? nt

[GeoWilliam750]

5. Although a very small fraction is made in the US

The majority is made in China, with the rest of it being made in Bangladesh, Vietnam, Cambodia, Indonesia, and a number of other countries.

Whether it is Uniqlo, GAP, Zara, H&M, or whatever, very little apparel is made in the United States, and the US does not have the infrastructure - logistics, sourcing, staff, to make any significant amount locally. Thus, simply getting to the point of being able to make things in the US would require a very large infrastructure and personnel investment, which would take many years to pay off.

[NCjack]

3. #45's buddies are succeeding. They have pumped all of

USA's money out of the lower 47% and into the pockets of the upper 2%. The economy is dying quickly. The first aid actions that might help are: immediately raise workers' pay to 1970 level, reduce CEO compensation to 1960 level, eliminate taxes for the lower 47%, and increase taxes on the upper 2% to balance the budget. #45's buddies are making the economy worse, as they rip out controls to deliver even more money to themselves. He needs to go now.

[Lucky Luciano]

4. I wish yanai actually said "shove it!" nt

[supernova]

6. He could certainly pull out of the US

but separate from drumpf's antics, shopping malls have been dying for years. I think shopping will move completely online and or return to small scale stores in the future. I think the era of the ginormous box store is over.