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Background Of Uniqlo

Satisfactory Essays

1.0 Background of the entrepreneur
Tadashi Yanai is the founder of the fourth largest apparel company in the world, Fast Retailing, also known for its UNIQLO casual clothing shop. He was born in 1949 in Yamaguchi and grew up in the retail clothing industry (Coban et al., 2015). He graduated from Waseda University in Tokyo in 1971 with a bachelor’s degree in economic and political science. He started selling men’s clothing and kitchenware at Jusco supermarket after finishing his graduation. After a year, he quits his job and joined his father’s tailoring business (SuccessStory, 2017). In 1984, he took over his father’s clothing chain of 22 stores and opened the first Uniqlo store in Hiroshima. The name stems from an abbreviation of “Unique Clothing Warehouse” (Martin et al., 2016). Uniqlo started as a typical multi-brand shop carrying Nike, Adidas, and other foreign brands and “The Great Recession” of Japan in the 90s has provided Uniqlo with a great opportunity to grow rapidly for which Uniqlo products quickly gained popularity among price conscious Japanese customers. Uniqlo has achieved great success in East Asia as it can be seen where more than 300 stores were expanded across Japan in 1998. Although there was struggles …show more content…

Retail fashion brands throughout the world invariably develop different market segments such as young women, mature men and so on. Uniqlo does just the opposite. It has positioned itself as a fashion retailer for the entire human race, selling clothing that is ‘made for all.’ It persists in this marketing approach and succeeds in getting recognised as such. His decisiveness and insights are second to none. For example, he has a policy to turn around merchandise quickly at the retail level. Items that do not sell well within the prescribed period will be taken off the shelf. I think it takes super-human willpower to be able to make such firm

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