How low will Uniqlo owner go after buyers spurn high prices?
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Tokyo
AS Fast Retailing Co introduced the fall and winter lineup for casual wear chain Uniqlo on Wednesday, it was trying to lure consumers who have kept purse strings so tight that the company's billionaire chairman conceded its shift to higher prices over the past year had failed.
Analysts and investors were watching as it unveiled the new season's LifeWear line in Tokyo to see whether chairman Tadashi Yanai came through with his pledge to offer the "lowest possible prices". Sales globally are struggling, despite T-shirts on sale for US$5.90 and stylish chino shorts at US$19.90 on its website.
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