Last Updated: 2020.11.12
FAST RETAILING CO., LTD.
The Fast Retailing Group today announced a strategic plan to rearticulate the business model of premium denim brand J Brand, Inc. and shift direction toward direct distribution. Beginning with the Summer 2021 collection, J Brand will be distributed exclusively via select direct-to-consumer channels operated by its parent company, the Fast Retailing Group.
'J Brand's current business model is not aligned with the vision we have for its future success. This change in direction will bring energy and focus back to a celebrated denim brand in what has become an increasingly saturated marketplace,' stated Kazumi Yanai, Chairman of J Brand, Inc. and Group Senior Executive Officer of Fast Retailing.
The Los Angeles-headquartered Fast Retailing Jeans Innovation Center (JIC), opened in 2016, will continue to innovate sustainable, next-generation denim development and support denim production for Fast Retailing brands globally, including the future J Brand assortment. As a consequence of the change in business strategy, the current J Brand workforce will be reduced in the coming months in proportion to the needs of a redefined corporate structure.
Yanai underlined Fast Retailing's commitment to J Brand and the denim category generally: 'The reality of the denim market today and our ability to figure in it significantly depends on our ability to react and adapt quickly - not only to the marketplace, but also to the changing needs of our customers. Ultimately, I believe J Brand will be best served by a streamlined operation, a sharper distribution network and a greater focus on the dynamic lifestyle of the end customer. Fast Retailing's global concept of LifeWear has never been more relevant to us.'
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Fast Retailing Co. Ltd. published this content on 12 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2020 22:10:00 UTC