Full-year Group revenue is expected to top two trillion yen for the first time. As the driver of the unique LifeWear concept, UNIQLO offer clothes as tools for high-quality daily living, and clothing "parts" to help customers build their individuality. Companies are entering a new era of information-centric operations and global competition. In these changing times, Fast Retailing has thought long and hard about what type of company we want to be, and what we must do to emerge a victor on this new competitive plane.
Mention Uniqlo to any global citizen today and the associations of quality, affordability and fashionable come to mind immediately.
That is how successful Uniqlo has become in recent years. It has become yet another contender in the global fast fashion retail market. How did it manage to capture a share of this competitive fast fashion retail market so quickly?
This soul is reflected in the 23 Management Principles that Tadashi Yanai has created and indoctrinated in each and every Uniqlo employee.
The essence of these principles includes putting customers first, giving back to society and being self-disruptive. Shortly after becoming company president inhe opened a new store — Unique Clothing Warehouse, which was later shortened to Uniqlo. Tadashi Yanai also discovered that many foreign fashion chains were vertically integrated, taking control of the entire business process from design to production to retail.
Byhe had successfully opened more than Uniqlo stores across Japan. However, one of the main challenges faced was consumer perception of the brand — it was perceived to be a discount retailer selling cheap and low-quality apparel to the suburbs.
This perception completely changed when the brand opened a 3-storey store in iconic Harajuku in central Tokyo in — people started noticing Uniqlo for its high-quality fleece jackets. The brand perception instantly shifted from being cheap and low-quality, to being affordable but high-quality.
Today, Uniqlo is a wholly-owned subsidiary of Fast Retailing Company Limited and it is known for providing high-quality private-label casualwear at low prices.
As at Januarythe brand has grown to more than 1, stores in 15 countries across Asia, Europe and US in just a matter of 20 years. It is the biggest apparel chain in Asia with close to retail stores. Fast Retailing has been growing at an incredible rate in the past 5 years and its confidence is reflected in its revenue forecast of This design driven clothing brand offers unique functional performance owing to in-house fabric and design innovation.
The company distinguishes itself from its price driven competitors by branding its signature innovations with names like HeatTech, LifeWear and AIRism. Uniqlo provides a superlative physical shopping experience by impeccably managing its stores, inculcating a positive employee culture and through in-store technology like video tutorials that describe product attributes.
Some of the key brand success factors for Uniqlo include the following: Delivery system supporting a clear brand promise: Two of the biggest challenges for any brand is to define a clear brand promise and to consistently deliver effectively on its brand promise across all touch points of the customer experience journey.
Successful brands are those that create supportive organizational and operational structures that facilitate the implementation of strategies to deliver on the brand promise. On one hand, Uniqlo has indeed managed to successfully define a clear brand promise for itself to provide high quality, performance-enhanced, universal, basic casual wear at affordable prices.
On the other hand, it has also created a strong delivery system to deliver on this brand promise. Stocks can be upgraded within a matter of weeks or replenished within a matter of days.This timeline shows a forecast for Indonesia's retail sales growth from to , by volume.
It is forecasted that Indonesia's retail sales volume will grow by 5 percent in From 1 January , Tadashi Yanai, CEO of Fast Retailing (FR), his annual message sent New Year to everyone in the company. In a message entitled "change or die," said the FR which included UNIQLO, Theory, Comptoir Des Cotonniers, Princesse timberdesignmag.com and others in the group - will be the company number one in the world of fashion.
Source: Deloitte Touche Tohmatsu Limited. Global Powers of Retailing Analysis of financial performance using company annual reports and other public sources of Top global retailers for fiscal years ended through June Fast Retailing's business performance is going from strength to strength.
Thanks to dramatic growth from our UNIQLO International operation, the Fast Retailing Group achieved significant gains in revenue and profit in the first half of FY Retail sales in Indonesia declined % in July , compared to last year, according to a central bank survey released this week, marking the first drop in retail sales in nearly six years.
Vinny Halo September 13, Management Discussion and Analysis (Fast Retailing_x) 中英分開排 \ 09/01/ \ M07 \ P.5 Business Review 1. Business and Operational Risks No new business-related risks have arisen during the three months ended 30 November