Uniqlo risks boycott in China after CEO's Xinjiang comment [Yahoo! Finance Canada]
FAST RETAILING UNSP/ADR (FRCOY)
NASDAQ:AMEX Investor Relations:
fastretailing.com/eng/ir
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Source: Yahoo! Finance Canada
the clothing company's owner said it does not source cotton from China's Xinjiang, which has faced allegations of forced labour in recent years. Fast Retailing CEO Tadashi Yanai made the comment during an interview in Tokyo with the British Broadcasting Corporation that was published on Thursday. Two hashtags on Yanai's comment went viral on Friday on Chinese social media platform Weibo, where several users slammed the company and vowed to never purchase its products. "With this kind of attitude from Uniqlo, and their founder being so arrogant, they're probably betting that mainland consumers will forget about it in a few days and continue to buy. So, can we stand firm this time?" one user wrote. Fast Retailing did not immediately respond to a request for comment. China is Fast Retailing's biggest overseas market and it has more than 900 stores on the mainland. Greater China, including Taiwan and Hong Kong, accounts for more than 20% of the company's revenue. The issue of
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