TOKYO - Denim jeans priced at 1,000 yen ($6.35) excluding tax, are being offered by a subsidiary of Japanese retail giant Aeon Co., in what could spur rivalry over low-cost jeans amid a growing consumer trend to save due to rising prices.
The price is about one-third that of conventional denim. Competition for cheaper jeans intensified in 2009 when consumer spending slowed after the collapse of the U.S. securities firm Lehman Brothers Holdings Inc., which triggered a global financial crisis.
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