Uniqlo boss says firm does not use Xinjiang cotton [Yahoo! Finance]
FAST RETAILING UNSP/ADR (FRCOY)
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Source: Yahoo! Finance
It is the first time Fast Retailing's chief executive Tadashi Yanai has directly addressed the contentious issue. China is a crucial market for Uniqlo not just for customers but also as a major manufacturing hub. Xinjiang cotton was once known as some of the best fabric in the world. But it has fallen out of favour after revelations that it is produced using forced labour by people from the Muslim Uyghur minority In 2022, tough US regulations on the import of goods from Xinjiang came into effect. Many global brands removed products using Xinjiang cotton from their shelves, which led to fierce backlash in China. Brands such as H&M, Nike, Burberry, Esprit and Adidas were boycotted. Sweden's H&M saw its clothing pulled from major e-commerce stores in China. At the time, Mr Yanai - who is Japan's richest man - refused to confirm or deny whether Xinjiang cotton was used in Uniqlo clothing, saying he wanted "to be neutral between the US and China" His decision not to take a
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