Uniqlo has abandoned plans to raise the price of its popular 290 yen socks, highlighting the challenges faced by Japanese retailers as continued inflation is squeezing household budgets. At the beginning of this month, due to rising raw material costs, the company announced a drastic increase in the price of clothing products, including increasing the price of socks by 100 yen and removing discounts on the purchase of three or more pairs of socks. A spokesperson for Uniqlo's parent company Express Sales Group said, “Since socks are a daily necessity, we have reconsidered our original price adjustment plan in Japan.”

Uniqlo has abandoned plans to raise the price of its popular 290 yen socks, highlighting the challenges faced by Japanese retailers as continued inflation is squeezing household budgets. At the beginning of this month, due to rising raw material costs, the company announced a drastic increase in the price of clothing products, including increasing the price of socks by 100 yen and removing discounts on the purchase of three or more pairs of socks. A spokesperson for Uniqlo's parent company Express Sales Group said, “Since socks are a daily necessity, we have reconsidered our original price adjustment plan in Japan.”