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New contender makes entrance into cutthroat clothing market

Posted by Junichi Kawagoe on 20.2010 News Out of English Newspaper   0 comments   0 trackback
(Mainichi Shinbun) February 20, 2010
Business News

New apparel firm I.T.'S international opened its first store on Friday in Tokyo's Harajuku fashion district.

I.T.'S international was founded in April last year by the Teijin Group, Kurabo Industries and four other apparel-related companies, to compete against casual wear brand Uniqlo and manufacturers from Europe and the United States. The six companies are responsible for different tasks for the new firm, ranging from material production to sales, aiming to improve product quality while keeping product prices low.

I.T.'S international plans to increase its number of stores to 50 in five years, and is aiming for total annual sales of 30 billion yen.

More than 100 shoppers lined up for the store's opening on Friday morning.

"The cooperation among the six companies is a great advantage for us," says I.T.'S international President Hidetoshi Kurita. "We will attract consumers who are no longer satisfied with just low prices."

Another store is scheduled to open in Tokyo's Ikebukuro district in March.


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