Despite the drop in the yen, consumers will not be able to enjoy the benefits. (image: jpellgen/flickr)
SEOUL, Aug. 25 (Korea Bizwire) - Due to corporate policies decided at Uniqlo headquarters, the prices of certain products have increased by up to 20 percent.
Despite the drop in the yen, consumers will not be able to enjoy the benefits. As Uniqlo Korea launches their new fall/winter line, prices of the company’s staples will jump. The increases are expected to vary from 5,000 won to 10,000 won.
Officials of Uniqlo Korea explain that the yen’s weakness and the increase in prices of materials are causing the price hikes. “Since most of our products come from factories in China and South East Asia, our costs are becoming higher due to the drop of the yen. However, prices of only 20 percent of our products will increase, making the average increase rate to be 9 percent.”
However, some Japanese brands are lowering their prices due to the drop in the yen. RMK lowered prices of certain products by up to 28 percent, and SnowPeak also decided to partially lower prices from 5 percent to 10 percent considering the exchange rate fluctuations.
By. M.H.Lee (mhlee@koreabizwire.com)
