Uniqlo cancels planned price hike on socks in Japan

Uniqlo has announced it will cancel its planned price increase for its popular 50-color socks and will continue its bulk-purchase discount program. The retailer had previously scheduled the price to rise from 290 yen to 390 yen per pair starting November 10, alongside the termination of multi-pair discount deals.

In a reversal made less than two weeks after the initial announcement, the company decided to maintain the 290 yen single-pair price and the 4-pair set for 990 yen. A spokesperson for parent company Fast Retailing stated that the decision was made because “socks are an essential everyday item,” leading the company to reconsider the revision.

While the sock price hike was scrapped, Uniqlo will proceed with planned price increases for other items, including various men’s and women’s jackets and pants, due to rising raw material costs and the impact of a weak yen. The move highlights the growing tension between rising corporate costs and consumer resistance to inflation in Japan.