UNIQLO and Toray Tie-Up
UNIQLO of the Fast Retailing group (9983) and textiles maker Toray (3402) have agreed to a tie-up to develop and produce clothing for UNIQLO stores. The agreement will secure for UNIQLO a stable source of cutting-edge product, as the two firms collaborate from the raw material through sales stages to bring fashionable clothes to consumers. UNIQLO had been making separate purchase orders from Toray to the tune of Y10 billion to Y20 billion a year, but the new agreement should bring the total business between the two firms to Y100 billion over the next three years. (日経).