…（゜Д゜;）英字新聞
'Fast fashion' taking toll on Japanese brands
When the company of iconic designer Yohji Yamamoto filed for bankruptcy protection earlier this month it marked the clearest signal yet of the crisis faced by the nation's fashion industry.
Yohji Yamamoto Inc. established by Yamamoto filed with the Tokyo District Court for corporate rehabilitation under the Civil Rehabilitation Law. As of the end of August, the company's liabilities came to about 6 billion yen.
The law allows the debtor to continue operating while undergoing corporate rehabilitation.
Speaking at a news conference on Oct. 9, Yamamoto admitted his responsibility for the firm's failure, saying: "I've taken a stance of leaving corporate management to the president while asking the president and others to keep their noses out of design matters. I feel responsible for entrusting too much. Only self-serving information has been conveyed to me, and I've acted in an 'emperor's new clothes' way."
Yamamoto made his Paris debut in the early 1980s. His designs stood out from Western offerings and made a big splash in the European and U.S. fashion worlds. He significantly contributed to enhancing the image of Japanese fashion overseas.
The company's sales peaked in 1999 and have since been on the decline. Sluggish consumption in recent years and a vast amount of investment in opening new shops in Paris, New York and in other cities overseas contributed to the firm's deteriorating business performance, analysts said.
Rehabilitation of the company will continue after transferring its operations to a new company to be established by Integral Corp., an investment company. Yamamoto will stay on as the designer and continue to present his collection in Paris.
Many Japanese designer brands made their international debuts in the 1970s and '80s. But many of them struggled to stay on the cutting edge of the fashion world as they failed to read consumer trends and changing times.
This situation has been exacerbated by the growth of so-called fast fashion, the clothing world's version of fast food. Among such brands are Zara of Spain, H&M of Sweden and Japan's own Uniqlo. They have been increasing their global networks by planning and making products in large quantities in a short period and selling them at affordable prices. They have managed to boost their sales by targeting a wide spectrum of consumers with low-priced and trendy products.
All of these fast fashion companies have their own design teams.
Partly affected by the rise of fast fashion, high-end designer brands have collapsed one after another this year. Among them are Veronique Branquinho of Belgium, which was liquidated in June, and Christian Lacroix of France, which has been exploring ways to rebuild its business.
Many foreign fast fashion makers have entered the Japanese market in recent years. The whirlwind of fast fashion still blows strong as sales of high-end brand clothes continue to drop.
An apparel industry source warns that this battle for survival could intensify in the industry, saying: "We're entering an era in which the Japanese market will be influenced by global competition more greatly than before, so only the firms with balanced powers of design and management can survive."
It seems that gone are the days when clothes can sell well due to the individuality of their designs alone. But this does not deny the necessity of designers who create new values.
The government regards Japanese fashion as an important field in its growth strategy. "It's crucial to foster designers who can become a driving force for Japanese soft power," an Economy, Trade and Industry Ministry official said.
Designers' talents are indispensable when devising a business strategy for making attractive products and marketing them globally. But there also needs to be practical management sense that is not subservient to the creativity section.
Yamamoto emphasized at the press conference, "I've made a point of sticking to a of 'made in Japan' concept as I looked to the global market" and "Japan's fashion culture isn't behind, even by a step, in the world."
Japanese fashion on the world stage should never be thought of as a thing of the past. To prevent this from happening, the fashion industry should make concerted efforts to foster and support next-generation designers and lay the foundation for ensuring this in the future.
When the company of iconic designer Yohji Yamamoto filed for bankruptcy protection earlier this month it marked the clearest signal yet of the crisis faced by the nation's fashion industry.
Yohji Yamamoto Inc. established by Yamamoto filed with the Tokyo District Court for corporate rehabilitation under the Civil Rehabilitation Law. As of the end of August, the company's liabilities came to about 6 billion yen.
The law allows the debtor to continue operating while undergoing corporate rehabilitation.
Speaking at a news conference on Oct. 9, Yamamoto admitted his responsibility for the firm's failure, saying: "I've taken a stance of leaving corporate management to the president while asking the president and others to keep their noses out of design matters. I feel responsible for entrusting too much. Only self-serving information has been conveyed to me, and I've acted in an 'emperor's new clothes' way."
Yamamoto made his Paris debut in the early 1980s. His designs stood out from Western offerings and made a big splash in the European and U.S. fashion worlds. He significantly contributed to enhancing the image of Japanese fashion overseas.
The company's sales peaked in 1999 and have since been on the decline. Sluggish consumption in recent years and a vast amount of investment in opening new shops in Paris, New York and in other cities overseas contributed to the firm's deteriorating business performance, analysts said.
Rehabilitation of the company will continue after transferring its operations to a new company to be established by Integral Corp., an investment company. Yamamoto will stay on as the designer and continue to present his collection in Paris.
Many Japanese designer brands made their international debuts in the 1970s and '80s. But many of them struggled to stay on the cutting edge of the fashion world as they failed to read consumer trends and changing times.
This situation has been exacerbated by the growth of so-called fast fashion, the clothing world's version of fast food. Among such brands are Zara of Spain, H&M of Sweden and Japan's own Uniqlo. They have been increasing their global networks by planning and making products in large quantities in a short period and selling them at affordable prices. They have managed to boost their sales by targeting a wide spectrum of consumers with low-priced and trendy products.
All of these fast fashion companies have their own design teams.
Partly affected by the rise of fast fashion, high-end designer brands have collapsed one after another this year. Among them are Veronique Branquinho of Belgium, which was liquidated in June, and Christian Lacroix of France, which has been exploring ways to rebuild its business.
Many foreign fast fashion makers have entered the Japanese market in recent years. The whirlwind of fast fashion still blows strong as sales of high-end brand clothes continue to drop.
An apparel industry source warns that this battle for survival could intensify in the industry, saying: "We're entering an era in which the Japanese market will be influenced by global competition more greatly than before, so only the firms with balanced powers of design and management can survive."
It seems that gone are the days when clothes can sell well due to the individuality of their designs alone. But this does not deny the necessity of designers who create new values.
The government regards Japanese fashion as an important field in its growth strategy. "It's crucial to foster designers who can become a driving force for Japanese soft power," an Economy, Trade and Industry Ministry official said.
Designers' talents are indispensable when devising a business strategy for making attractive products and marketing them globally. But there also needs to be practical management sense that is not subservient to the creativity section.
Yamamoto emphasized at the press conference, "I've made a point of sticking to a of 'made in Japan' concept as I looked to the global market" and "Japan's fashion culture isn't behind, even by a step, in the world."
Japanese fashion on the world stage should never be thought of as a thing of the past. To prevent this from happening, the fashion industry should make concerted efforts to foster and support next-generation designers and lay the foundation for ensuring this in the future.
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