Introducing UNIQLOUNIQLO is Japanese company originally known from ‘unique clothing’ or Fast Retailing Co. Ltd asa casual wear manufacturer and retailer. In 1972, Tadashi Yanai inherited his father’s chain of 22men’s tailoring stores, Ogori Shoji in Ube, Yamaguchi. Shortly after becoming companypresident in 1984, he opened a new store – Unique Clothing Warehouse, which was latershortened to Uniqlo. His promotion is well-documented as the catalyst for the company’s rapidexpansion. Inspired by his travels to Europe and the US, where he discovered large casualapparel chains like Benetton and Gap, Tadashi Yanai saw immense potential for Japan’s casualwear market and set goals to evolve the family’s business strategy from suiting to casualclothing, buying fashion goods in bulk at low cost. Tadashi Yanai also discovered that manyforeign fashion chains were vertically integrated, taking control of the entire business processfrom design to production to retail. By 1998, he had successfully opened more than 300 Uniqlostores across Japan.However, one of the main challenges faced was consumer perception of the brand – it wasperceived to be a discount retailer selling cheap and low-quality apparel to the suburbs. Thisperception completely changed when the brand opened a 3-storey store in iconic Harajuku incentral Tokyo in 1998 – people started noticing Uniqlo for its high-quality fleece jackets. Thebrand perception instantly shifted from being cheap and low-quality, to being affordable buthigh-quality.Prepared By
Name: Israt Jahan ID: 2031311UNIQLO Core competencies AdvantagesCore competencies:Core Competencies are resources and capabilities which comprise acompany's strategic advantages. A modern theory of management argues that a companyneeds to identify, develop and optimize its core competencies to be competitive againstcompetition.CEO Tadashi Yanai revealed in March 2017, in the midst of declining revenue growth, that itplans to adapt Zara's design to delivery time. It opened an additional 200,000 sq. Ft office inTokyo's industrial area, integrating design, manufacturing and marketing services in onebuilding, hoping that this growth in collaboration would increase market speed. The new facilitywould also help UNIQLO expand its e-commerce and distribution services in the Tokyo area onthe same day. In addition, UNIQLO is growing its recruiting of tech talent who can help createmore advanced AI algorithms that can help manufacturers, retailers and shops anticipate whatconsumers want and minimize unnecessary inventories.Keeping Up With Competition:Without a question, pace must be a central element of Uniqlo'soperating plan, considering the rivalry. Nonetheless, as a destination for high-quality, low-costbasics it also needs to retain its competitive edge. While other retailers have had first-timemover advantage in the "speed-to - market" phase of retail, there are many ways Uniqlo cancatch up.