Uniqlo has seen a surge in sales after a “banana bag” that became viral on TikTok.
Newly filed accounts show that sales for the Japanese Fashion Retailer’s UK and European businesses increased by 36pc, to more than €1.3bn. (£1.1bn), in the year ending 31 August 2023. The pre-tax profit rose from €77m (£187m) to €187m.
The company attributed the rise to a demand for its mini-round shoulder bags among young consumers, highlighting this bag as one of their best sellers.
The bag was nicknamed “banana”, thanks to its unique shape. It captured the imaginations of Gen Z and the millennials in TikTok 2022 and 2023. The bag went viral in 2022 and 2023 after a TikTok user uploaded a video showing her unpacking the bag.
The shoulder bag that sells for £14.90 has also been a big hit with high-fashion fans: Vogue declared it the “hottest product so far this year” in April 2023. The design of the bag is similar to luxury Prada bags from the 1990s.
Despite spending no money in marketing or advertising, the bag became Uniqlo’s best-selling bag ever.
Uniqlo’s other products, such as a bra-included top and wide-leg pleated pants, have also been attracting attention on TikTok.
Uniqlo stated in its accounts that “there has… been an increase among younger customers who have embraced such items as the mini-round bag, bra-top , and pleated pants which went viral during summer.”
Uniqlo, founded in 1984 by Tadashi Yanai, is now one of the largest fashion retailers with over 2,400 outlets.
The brand has only 18 stores in the UK. This makes Britain a small market. It opened its new flagship store on London’s Oxford Street last month.
The success of Uniqlo has made Mr Yanai the richest man in Japan, with an estimated fortune of 35bn dollars.
Uniqlo has been contacted for more information.