Tadashi Yanai, the founder of Uniqlo, subsidiary of Fast Retailing, made a major plan three years ago. He aimed to make Uniqlo the world’s top apparel store chain by 2020. This plan shot the annual revenue to about 5 trillion yen, which is approximately USD $64 billion.
Last Thursday, Fast Retailing indicated that its revenue was already almost one fifth of Yanai’s proposed aim. This was precipitated by setting up stores all over the world including China, Singapore and US. Apart from that, an amalgamation of marketing gimmicks made up of “gleaming flagship stores, billboards touting minimalist styles at moderate prices, and cutesy ad campaigns featuring Maru, a Japanese cat whose YouTube videos have gone viral”, described the Wall Street Journal
As ambitious as Yanai is, he still has the challenge of facing competitors such as Hennes & Mauritz, more commonly known as H&M as well as Inditex… Continue reading →