Uniqlo operator beefs up overseas markets for world No. 2 apparel retailer
TOKYO (Kyodo) -- The operator of the Uniqlo clothing chain is expected to become the world's second-largest apparel retailer as it pursues a strategy
Fast Retailing Co., the operator of the Uniqlo clothing chain, is on track to become the world's second-largest apparel retailer. This year, the company reported record sales of 3.96 trillion yen ($25 billion) for the period ending August 31. Analysts believe that the Japanese company will narrowly surpass Sweden's H&M to claim the No. 2 spot in global apparel retail.
CEO Tadashi Yanai has been focused on elevating Uniqlo to the top of the clothing industry since the beginning. The company has made a strategic shift to move beyond affordable clothing and offer distinctive, functional wear. This LifeWear concept emphasizes high-quality, tech-driven products like HeatTech and Airism innerwear, as well as minimalist design and efficient supply chain management.
The company's overseas expansion, particularly during the COVID-19 pandemic, has been a key factor in its growth. Sales in North America and Europe have more than tripled and the one-year repeat purchase rate reached around 60 percent in fiscal 2022. Uniqlo has entered a growth phase in these regions, and its brand recognition is spreading through local communities, being increasingly viewed as a "cool" brand.
The company's focus on durable, long-lasting products sets it apart from fast-fashion rivals and contributes to its reputation as an environmentally friendly option. Uniqlo's initiatives to promote environmental conservation through Sustainable Development Goals and ESG practices also contribute to its positive image.
Written by urgent.news from The Mainichi's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
