On June 7, Uniqlo owner Fast Retailing announced plans to raise prices of fleece and jacket in the Fall/Winter by as much as $7.54. As per a report by The Street, the company has been forced to raise priced due to increasing production costs. Currently, the hike is only effective in Uniqlo’s Japan stores. However, other brands across the globe are also raising prices. For instance, Ireland-based Primark, the retail subsidiary of Associated British Foods plans to raise prices of its Fall/Winter collection.

Similarly, British fast fashion brand Next increased prices by 8.5 per cent for fashion items while the prices for certain Zara items were raised by 10 per cent, as per a UBS Research report. The prices of H&M were also hiked by 10 per cent for certain items in March.

However, despite rise in prices, these chains continue to remain significantly more affordable than next rank in affordability. The prices of a Levi’s jeans have increased to $70 a pair without discounts while the prices of a Gap shirt start at $50. Currently apparel and footwear costs have increased 6.8 per cent from 2021, as per data from the Labor Department.

Sales at apparel stores rose by 11.2 per cent over the prior year, well above the prevailing rate of inflation for the category, says Neil Saunders, Managing Director, GlobalData. A lot of these sales were driven by consumers preparing their wardrobes for the spring and summer seasons.