Fast Retailing embarks on joint venture with Shima Seiki
Uniqlo owner Fast Retailing has announced the launch of Innovation Factory, a joint venture with Shima Seiki in which it will develop and manufacture innovative knit products.
The partnership aims to establish a new production system using new knit production technologies.
Innovation Factory was originally established in December 2015 as a wholly-owned subsidiary of Shima Seiki to produce WHOLEGARMENT seamless knitwear. Following the establishment of the joint venture, the company will now produce WHOLEGARMENT products for Uniqlo.
The joint venture company is expected to become the lead factory in the production of innovative knit products for the Fast Retailing Group.
Innovation Factory is based in Japan’s Wakayama City. Fast Retailing has a 49% stake in the joint venture while Shima Seiki holds 51%.
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