Uniqlo to give Hong Kong staff a pay rise of up to 24 per cent, signalling retail labour market is tight as tourists return
- Uniqlo and sister brand GU, both operated by Fast Retailing Group, will give a pay rise to their 2,540 store and office staff in Hong Kong
- The pay rise by the Japanese fashion brands is much higher than the average pay rise expected for Hong Kong workers this year of 4 per cent
Japanese casual clothing retail chain Uniqlo will give a pay rise of up to 24 per cent to its Hong Kong-based staff from this month, in a sign that the labour market for retailers in the city is tight as they prepare for an influx of mainland tourists.
Uniqlo and sister brand GU, both operated by Hong Kong-listed Fast Retailing Group, said in a statement on Tuesday that they will give a pay rise to their 2,540 store and office staff in Hong Kong, with top performers receiving 24 per cent, effective from February.
The two brands will increase the starting salary for store staff by 10 per cent to HK$17,000 (US$2,165) per month. Management grade employees – typically filled by university graduates – will see their starting salary increased to HK$25,500 per month while a store manager can earn up to HK$1 million per year. Annual leave for staff is also being increased.
The pay rise by the Japanese fashion brands, headed by Japanese billionaire founder Tadashi Yanai, is its first since 2021 and is much higher than the average pay rise expected for Hong Kong workers this year of 4 per cent, according to November data from consultancy ECA International.
“The strong pay rise at Uniqlo reflects that the local retail sector is in expansion mode as it prepares for the return of mainland tourists after the border reopening,” said Jerry Chang, managing director of executive search firm Barons & Co.