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Tag: fast retailing

  • Japan’s retail sales lift for 11th consecutive month

    Japan’s retail sales lift for 11th consecutive month

    Japanese retail sales continued to grow in September with the archipelago nation recording its 11th consecutive month of revenue growth in retail. For the four weeks to September 30, retail sales increased 2.1% on the same period last year, according to data by the Japanese trade ministry.

    However, the growth was slower compared to August’s 2.7% expansion in the prior month, signalling a potential slow down in retail spend ahead of the busy Holiday period.

    Last month’s gains were led by rising gasoline prices and high sales of machine tools, as well as food and beverage purchases and clothing.

    In September, car sales slipped and online retailers suffered a decline, said the report.

    On a month-on-month basis, retail sales fell 0.2% in September from the previous month, following August’s 0.9% increase.

    The dropped was the first in four months, adding to fears that consumer spending fell yet again in the third quarter.

    Meanwhile, Japan’s annual core consumer inflation gained 1% in September, the fastest in seven months. However, the inflation was boosted mostly by higher oil prices.

    The retail growth follows a survey from Criteo that states Japanese consumers lead the world in mobile transactions, with customers shopping more while commuting.

    In the latest survey, mobile devices accounted for 55% of all EC transactions, up 4 points on the year. Transactions through smartphones increased 9%, and tablets 3%, but purchases by PC were down 9%.

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  • Uniqlo acquires stake in Vietnamese brand

    Uniqlo acquires stake in Vietnamese brand

    Uniqlo’s parent, Fast Retailing, has acquired a 35 per cent stake in Hanoi-based women’s fashion brand Elise. Elise, which has more than 100 stores across the country, is said to have received tens of millions of dollars from the deal – a figure much higher than its entire charter capital.

    This is Fast Retailing’s first significant move into Vietnam since it announced it would launch its Uniqlo brand in Ho Chi Minh City next year.

    The store will be operated by a joint venture between Fast Retailing and Mitsubishi Corporation.

    Vietnam is one of the markets Uniqlo is counting on to double its store network in Southeast Asia and Oceania to around 400 by 2022.

    Uniqlo’s arrival in Vietnam will intensify competition for foreign brands as Zara and H&M who have already successfully launched there.

    According to German firm Statistics Portal, Vietnam’s fashion revenue will annually grow 22.5 per cent from 2017 to 2022, and its clothing sales will surge to an estimated US$245 million this year.

    Another fashion group from Japan, Stripe International, has reportedly bought NEM, a Vietnamese fashion brand which targets female office workers.

  • Fast Retailing profit soars, mainly Uniqlo

    Fast Retailing profit soars, mainly Uniqlo

    Uniqlo parent Fast Retailing has reported a record full-year profit, due to strong growth in Asia and lessening losses in the US. And the company says current year performance to date suggests even better results lie ahead. Fast Retailing profit rose 34 per cent to US$2.11 billion in the year to August.

    In July the company reported a solid third-quarter, again based on strong sales across Asian markets. Across the first nine months, sales outside Japan rose 28 per cent year on year and operating profit outside Japan soared 65 per cent, driven largely by Uniqlo Asia.

    Online sales were also strong as the Uniqlo brand expanded its reach to new markets.

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  • Theory Expands Footprint in China with Tmall Debut |

    Theory Expands Footprint in China with Tmall Debut |

    New York-based clothing label, Theory, known for its minimalist, precisely tailored wardrobe essentials, has opened its first online store in China on Alibaba’s Tmall e-commerce platform and its dedicated site for high-end shoppers, Tmall Luxury Pavilion. The stores offer all items in Theory’s womenswear and menswear collections available in its brick-and-mortar stores, including its newest Good Wool and autumn-winter 2018 lines. Offline, the brand currently counts 33 stores across 17 cities in China, a number it expects to double in three years.

    “Tmall’s partnership with Theory is a milestone in our continued market leadership in China as the premier B2C platform for fashion. We will empower Theory through our unparalleled data-driven consumer insight and New Retail technology to serve and discover fashion consumers across China, as well as build lasting relationship with customers,” said Jessica Liu, president of Tmall Fashion and Luxury.

    As part of the partnership agreement, Theory and Tmall will work more closely to leverage consumer insights and offer personalized New Retail experiences, starting with providing the same bonus points, sales benefits and exclusive birthday perks to Theory’s hundreds of thousands of VIP loyalty club members, both online and offline, for a more-seamless shopping experience across all channels.

    Tmall also provided the brand with marketing support, such as promoting its popular merino wool and cashmere clothing on Tmall Cashmere Category Day, an online-to-offline, multi-brand marketing event that ran from Sept. 24 to 26. The category is specially highlighted because of growing popularity of cashmere goods among the 30-40 age group on the platform, with the most rapid sales growth coming from younger consumers under 30 years old, the e-commerce platform said.

    “We will continue to roll out similar campaigns with Theory. At the same time, the brand has already merged its online and offline membership system to ensure the most complete set of rewards and services for its customers across all its online and offline channels,” said Anita Lyu, vice president of Tmall Fashion.

    Owned by Japan’s apparel giant Fast Retailing, Theory has pioneered a new category in the market now known as contemporary fashion — garments and accessories with designer aesthetics and premium quality, but sold at more-affordable price points. Contemporary fashion labels include Massimo Dutti, Charles & Keith and H&M Group’s COS.

    Aside from Theory, Fast Retailing also owns fashion brands, including Austrian contemporary label Helmut Lang, Los Angeles-based demim brand, J Brand and French lingerie brand, Princesse tam.tam, as well as premium fashion brand Comptoir Des Cotonniers. Two of its brands, Uniqlo and GU, have already opened flagship stores on the Tmall platform.

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  • Uniqlo to open in Vietnam next year

    Uniqlo to open in Vietnam next year

    Uniqlo Vietnam will launch next year.

    The Japanese fast-fashion brand says it will open its first store in Ho Chi Minh City in the second quarter of next year, with the exact location to be advised later.

    The Uniqlo Vietnam launch announcement follows successful debuts in the fast-growing market by archrivals H&M from Sweden and Spanish-headquartered Zara during the last two years.

    “Our entry into Vietnam is an exciting milestone for everyone at Uniqlo,” said Tadashi Yanai, chairman, president and CEO of Uniqlo’s parent Fast Retailing.

    “The Southeast Asia region has been an important driver of growth for us, and we are pleased and optimistic about our opportunity to be a part of such an exciting economy and retail market,” he said

    Uniqlo will begin recruiting local talent soon in preparation for the opening of its first store.

    Uniqlo Vietnam will be a joint venture 75 per cent owned by its Singapore subsidiary and 25 per cent by Mitsubishi Corporation, with no local shareholding.

    With the first Uniqlo Vietnam store located in Ho Chi Minh City, the company says it will focus on establishing its presence and brand awareness there before considering other cities.

  • G.U., Uniqlo’s sister brand, coming to Korea

    G.U., Uniqlo’s sister brand, coming to Korea

    Uniqlo’s sister brand G.U. is coming to Korea in September and will open its first store in the Lotte World Mall in Jamsil, Southern Seoul.

    Due to open on 14 Sept., the store will be 1,400 square meters (15,069 square feet) on the first basement floor. The brand’s parent company is Japan’s Fast Retailing, best known for Uniqlo.

    “Expanding overseas is one our most important tasks,” said G.U. CEO Osamu Yunoki in a press conference held on July 19 in central Seoul. “Korea has consumers that are highly sensitive to fashion, so our launch here was considered essential to fulfill that goal.”

    Korea is the fourth overseas location for G.U. It currently has 19 branches in China, Taiwan and Hong Kong, along with 374 in Japan.

    G.U. was established in 2006 and has grown rapidly to reach 199.1 billion yen (US$1.76 billion) in revenue this year. Its products are differentiated from Uniqlo by their lower prices and more diverse styles, which include preppy, feminine and business casual. Uniqlo emphasizes functionality and keeps its product designs basic.

    “In Japan, Uniqlo and G.U. stores are often located close to each other and sales figures have shown that the two stores proximity create a positive effect,” Yunoki said. Uniqlo is on the first floor of the mall.

    Yunoki said G.U.’s prices in Korea may be higher than in Japan considering additional costs like tax, but the plan is to maintain the similar price gap with Uniqlo as in Japan. In an interview with the Japanese media outlet Nikkei last month, Yunoki said the ideal pricing for G.U. was “half the prices offered by Uniqlo, or at least 30% cheaper.”

    Some of the products at G.U.’s Korea branch will be exclusive to Korea. The brand has research centers in London and Tokyo that analyzes fashion trends in different markets.

    “In line with the launch schedule, we did a study of Korean fashion based on interviews, postings on social media and fashion magazines, to come up with exclusive products like over-sized coats and skinny pants,” said Hirofumi Osako, G.U.’s regional head for Korea.

    “Our plan is to learn from consumers here and continue to apply what we learn to products we release here.”

    From August 24 to 26, a pop-up store will open in the Hongik University area to present G.U.’s fall and winter lineup. Local consumers can also see the designs beforehand through a mobile app that will launch August 1 and the official online shopping mall, which is due to open on 1 Sept..

  • Uniqlo Asia helps the parent’s sales power record quarter

    Uniqlo Asia helps the parent’s sales power record quarter

    Solid overseas growth helped Japanese apparel retailer Fast Retailing post a record quarterly profit.

    Uniqlo Asia sales proved the star of the business.

    For the three months to May, Fast Retailing’s operating profit was 68.4 billion yen (US$608 million), 37 per cent ahead of a year ago. Overseas sales exceeded domestic sales for the third consecutive quarter.

    For the first nine months trading, overseas sales rose 28 per cent year on year and overseas operating profit lept 65 per cent, driven largely by Asian sales of its largest retail brand, Uniqlo.

    In Japan, sales rose 8 per cent for the first nine months of the year, despite a static store count of just over 800. Online sales there rose 33 per cent and now account for 7.8 per cent of domestic sales.

    Fast Retailing’s relatively new value chain GU increased sales by 6 per cent in the nine months, but discounting saw operating profit fall by 20 per cent in the latest quarter.

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  • Uniqlo Philippines global flagship launch is happening

    Uniqlo Philippines global flagship launch is happening

    Uniqlo Philippines has set the opening date for what will be the Japanese brand’s largest store in Southeast Asia.

    The new store will open on October 5 in Glorietta 5 at Makati City, in Metro Manila.

    Uniqlo says the store will have a sales area of 4000sqm and is designated a “global flagship”.

    “The new store will offer local and international customers a huge shopping area and a world-class immersive shopping experience featuring large visual displays and state-of-the-art design concepts,” Uniqlo said in a statement. “As with other global flagship stores, it will also showcase the full lineup of LifeWear for men, women, kids and babies.”

    Uniqlo has launched a nationwide campaign as a lead-up to the store’s launch, called ‘Our Future Is Here’. The fast-fashion retailer is inviting customers to nominate Filipinos who they believe are leaders in sports, film, music, culture, design, and other disciplines, influencing the nation’s future.

    “The great success of Uniqlo Philippines is thanks to our customers here. The Our Future Is Here campaign is an exciting opportunity to deepen our connection with the city of Manila through our global flagship store, to engage communities and celebrate the innovators who will shape its future,” said John Jay, president for global creative at Uniqlo’s parent, Fast Retailing.

    Denmark foray

    Meanwhile, Uniqlo has announced plans to launch in Denmark, opening its first store in Copenhagen in the second quarter of next year.

    The 1400sqm store will be located on the Stroget, one of Europe’s longest pedestrian streets, in Louises Hus, a historical building dating back to the mid-1700s.

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  • Fast Retailing’s Gu to enter South Korea

    Fast Retailing’s Gu to enter South Korea

    Fast Retailing Group brand Gu plans to launch in South Korea this year with a store in Lotte World Mall in Jamsil, Seoul.

    With the brand message “Your freedom”, the Japanese clothing store will have a sales floor area of 1400sqm and offer items for women, men and children.

    “Launching in such a fashion-conscious country as Korea is a big step,” says Gu CEO Yunoki Osam.”

  • Fast Retailing to open first Uniqlo shop on Indonesia’s Sumatra Island

    Fast Retailing to open first Uniqlo shop on Indonesia’s Sumatra Island

    Japanese casualwear manufacturer Fast Retailing will open a Uniqlo shop on Sumatra Island, its first outlet outside Indonesia’s most populous main island of Java.

    The shop will open at the Sun Plaza shopping mall in Medan this week, in the northern part of the island. It covers about 2000sqm.

    Fast Retailing Indonesia president Michiaki Tanaka says the Sumatra opening will be followed by another outlet outside Java, in Makassar on Sulawesi Island, in May.

    Two more shops are planned for Jakarta and Yogyakarta before August, taking the number of outlets in the country to 18. Tanaka says brand recognition has been boosted through the store expansions.

    Uniqlo first opened in Indonesia in 2013.

  • Uniqlo to expand to Sweden

    Uniqlo to expand to Sweden

    Japan’s Fast Retailing plans to launch its Uniqlo clothing brand in Sweden with an initial store in Stockholm this year.

    Taking on its rival H&M in its home market, it marks the cut-price brand’s debut in the Nordic region.

    Uniqlo has fewer than 70 stores in all of Europe, and Fast Retailing CEO Tadashi Yanai says he wants to overtake H&M and Zara parent Inditex of Spain as the world’s top apparel retailer.

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  • Asia boosts Fast Retailing sales and profit

    Asia boosts Fast Retailing sales and profit

    Uniqlo parent Fast Retailing has reported a record first quarter profit as international sales eclipsed its domestic revenue for the first time.

    While Fast Retailing sales in Japan rose 8 per cent to 257 billion yen (US$2.31 billion) for the first quarter ended November, overseas sales surged 31 per cent to 258.2 billion yen.

    “Southeast Asia & Oceania contributed to the rise in Uniqlo international revenue thanks to strong sales of summer items designed for year-round hot weather and buoyant demand for winter items from overseas travelers,” the company said in a statement.

    In China, Uniqlo is closing in on its target of 1000 stores by 2021 by venturing into second- and third-tier cities, surpassing 600 at the end of last year. India is the next major market on its radar.

    As for the home market, Fast Retailing CFO Takeshi Okazaki said while the economy was improving, “we cannot be optimistic that demand is returning to the apparel sector”.

    “We aim to make Japan one country in a global business,” he said during an earnings briefing.

    Operating profit for the quarter rose 28.6 per cent to US$1 billion in the quarter.

  • Fast Retailing to launch in India

    Fast Retailing to launch in India

    Uniqlo parent Fast Retailing has applied to open stores in India.

    The Japanese fast-fashion giant has filed an application with India’s Department of Industrial Policy & Promotion to do business in the country under the Uniqlo brand.

    “India is a market with great potential,” says Fast Retailing spokeswoman Pei-Chi Tung. The company has long been interested in entering India, but has been beaten by H&M and Zara which are already established in the apparel market Euromonitor International has predicted will grow 29 per cent to INR3.76 trillion (US$58 billion) by 2021.

    Zara owner Inditex opened a flagship in Mumbai in May, which CEO Pablo Isla says has had a strong reception. It has just started online sales as well in India.

    Fast Retailing last month reported its biggest jump in annual earnings in more than a decade, driven by a near doubling of operating profit at Uniqlo stores outside of Japan. Operating profit for the brand in China jumped 37 per cent for the year ended August 31, compared with a 6.4 per cent slump in Japan.

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  • Uniqlo Canada expanding to British Columbia

    Uniqlo Canada expanding to British Columbia

    Uniqlo Canada has announced plans to open its third store.

    Its debut in British Columbia, the store will open late this year, 12 months after Uniqlo entered Canada with an outlet in Toronto.

    Opening at Metropolis at Metrotown in Burnaby, British Columbia, the casual apparel retailer’s store will have 20,630 sqft (1917 sqm) of sales floor and offer its full range of core items.

    “Canada continues to be an important focus for the company globally,” says Uniqlo Canada COO Yasuhiro Hayashi. “This country’s cultural and climatic diversity represents the perfect platform for Uniqlo and our philosophy of LifeWear.”

    Product offerings at the new store will include the brand’s signature collections such as Airism, Cashmere, HeatTech and Ultra Light Down.

    Since opening its first store in Japan in 1984, Uniqlo has expanded to more than 1800 outlets worldwide. It is one of seven brands under the umbrella of Japan’s Fast Retailing.

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  • Concept store Uniqlo Move opens in Tokyo

    Concept store Uniqlo Move opens in Tokyo

    A lifestyle-focussed concept store, Uniqlo Move, has been launched in Tokyo by the Japanese fashion basics retailer.

    It features its LifeWear range of activewear in a space on the eighth floor of Shinjuku Takashimaya department store.

    Sections of the 75 sqm store will be arranged according to movement, ranging from everyday life to exercise. Not only will the store offer products and visuals different to Uniqlo stores, but it will also act as an information hub for tips on making everyday life “more active and comfortable”, says the retailer.

    Dubbed “The Science of Lifewear” in its entirety, the brand’s first global campaign launched last year, being described by creative director John Jay at Uniqlo parent company Fast Retailing as “the ongoing innovation of simplicity”.

    As the range was developed last year, mountaineer Marin Minayama has appointed the brand’s first female ambassador.

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