Assignment-UNIQLO Group-Marketing Maestro.docx -...

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Introducing UNIQLO UNIQLO is Japanese company originally known from ‘unique clothing’ or Fast Retailing Co. Ltd as a casual wear manufacturer and retailer. In 1972, Tadashi Yanai inherited his father’s chain of 22 men’s tailoring stores, Ogori Shoji in Ube, Yamaguchi. Shortly after becoming company president in 1984, he opened a new store – Unique Clothing Warehouse, which was later shortened to Uniqlo. His promotion is well-documented as the catalyst for the company’s rapid expansion. Inspired by his travels to Europe and the US, where he discovered large casual apparel chains like Benetton and Gap, Tadashi Yanai saw immense potential for Japan’s casual wear market and set goals to evolve the family’s business strategy from suiting to casual clothing, buying fashion goods in bulk at low cost. 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. By 1998, he had successfully opened more than 300 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 1998 – 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. Prepared By
Name: Israt Jahan ID: 2031311 UNIQLO Core competencies Advantages Core competencies: Core Competencies are resources and capabilities which comprise a company's strategic advantages. A modern theory of management argues that a company needs to identify, develop and optimize its core competencies to be competitive against competition. CEO Tadashi Yanai revealed in March 2017, in the midst of declining revenue growth, that it plans to adapt Zara's design to delivery time. It opened an additional 200,000 sq. Ft office in Tokyo's industrial area, integrating design, manufacturing and marketing services in one building, hoping that this growth in collaboration would increase market speed. The new facility would also help UNIQLO expand its e-commerce and distribution services in the Tokyo area on the same day. In addition, UNIQLO is growing its recruiting of tech talent who can help create more advanced AI algorithms that can help manufacturers, retailers and shops anticipate what consumers want and minimize unnecessary inventories. Keeping Up With Competition: Without a question, pace must be a central element of Uniqlo's operating plan, considering the rivalry. Nonetheless, as a destination for high-quality, low-cost basics it also needs to retain its competitive edge. While other retailers have had first-time mover advantage in the "speed-to - market" phase of retail, there are many ways Uniqlo can catch up.

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