News.com.au – 12 September 2018 The world’s largest apparel and accessories company, Adidas, is in crisis after the world’s leading fashion house Uniqlo pulled its clothing line.
The clothing chain, owned by Swiss multinational Adidas, has been struggling to survive the decline of the traditional clothing industry.
Uniqllo said on Friday that it was pulling its line, due to the global economic crisis, citing a number of factors including a loss of market share.
“The company is now looking for new revenue opportunities outside of apparel, and we have made our decision to end our apparel business in 2018,” the statement read.
“As a result, Uniqlowl is no longer actively selling our brand to consumers and is focusing on its new growth areas, namely in apparel and fashion retail.”
The move follows a decision by Uniqlot to stop selling clothing for the first time in more than two decades, as it struggles to find the funds to keep its stores open.
Uniqulot, the world market leader in clothes, has faced a number other challenges in recent years.
The company has faced the threat of insolvency and bankruptcy, and has lost a number key executives.
Adidas is Australia’s largest clothing company, with sales totalling more than $4.5 billion last year.
Adidas has been facing a number challenges, from the downturn in the fashion industry, to its own low sales, to the collapse of its clothing business, to more recently the global financial crisis.
The global fashion industry has also struggled to make money as brands struggle to keep their products on sale.
Unifor chief economist Craig Elliott told the ABC that the company has a long way to go before it can recover.
He said it was important to look at other industries to see what might help. “
It’s a very complex problem, and I think Adidas, in particular, will need to do some significant restructuring to make that happen.”
He said it was important to look at other industries to see what might help.
“What are the other areas that could be a really positive development for Adidas, that might help to help the company, for example?”
Mr Elliott said.
It’s one of the most profitable industries in the world, so it’s a big problem.” “
That’s where the problem is most acute.
It’s one of the most profitable industries in the world, so it’s a big problem.”
Uniqluhl is a subsidiary of Uniqltoys.
Unique is a trademark of Uniquloys Limited.
The Uniqliys clothing brand was founded in the early 1980s by former UniqLets executive Paul Wysocki, who was also the founder of Adidas.
Mr Wysicki died in 2015.
Adidas declined to comment.
Uniwllets chief executive, Mark Seddon, said the decision was not a surprise.
“I think the company will be well advised to take a very difficult decision, and it is our intention to make a very positive contribution to our company,” Mr Sedden said.