The Japanese economy is on a rise and many economic analysts are reasoning this with the rise in private and public spending, as well as great sales in high priced items at department stores, and the list goes on.
Average summer bonuses has rose by 2.06 percent for the 4th consecutive year, and companies have released their plans on hiring much more new graduates for the year 2007 than they had in 2006.
Retail sales, although has ups and downs, could be said as being quite steady recently. Still, Japan is facing a very big problem: the baby boomers will be retiring in 2007.
The population of the baby boomers (those who are round 59 to 61 years of age) is at 10,789,000, out of the total 127,789,000. The major issue discussed by the nation is the problem of pensions, and lack of human resource for businesses. This explains the increase in hiring new graduates at many companies.
Many might feel that this has nothing to do with the fashion industry other than the need for new recruits, but fashion companies are now working to supply the baby boomers, even after they have retired.
Renown is going to expand merchandising for items other than business wear for their brand Durban. They will place casual suits, sold separately in order to allow for casual coordination's. This strategy is to comply with the demand after 2007, as the baby boomers will be retiring and no longer need suits as much.
Currently 40 percent of their sales come from business suits, but as their targeted segment and the customers they have been supplying will no longer need suits as they had for the many years they had worked.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
