Uniqlo targets global sales of ¥160bn in next fiscal
Uniqlo announces results for the second half of fiscal 2011.
Mr Tadashi Yanai, Chairman, President and CEO comments :
True to target, we generated a turnaround in sales and profit in the second half of fiscal 2011 from March through August, as sales of our Silky Dry and Sarafine functional innerwear ranges doubled year on year, leading to a rebound in sales at UNIQLO Japan. In my opinion, this was a direct result of our drive to strengthen the appeal of UNIQLO products and to enhance coordination across our unique, vertically integrated business model - spanning the entire clothes-making process from design and planning, production to marketing and retail sale.
Targeting UNIQLO International Sales of ¥160.0bln in Fiscal 2012
Our focus for future UNIQLO growth is shifting outside of Japan. I am convinced that the opening of our New York Fifth Avenue global flagship store in October 2011 will prove a giant leap forward in our quest to earn worldwide recognition for UNIQLO as a leading Japanese brand. I have the same feeling of excitement now as I did back in 1998 when the opening of our first city store in Tokyo's trendy Harajuku district propelled UNIQLO from a network of roadside discount stores to a quality, urban fashion brand.
Now, each time we enter a new national market, I not only sense an appreciation for UNIQLO's quality products, but also a high regard for the UNIQLO brand itself. There are even times when I feel the UNIQLO brand is evaluated more highly in overseas markets than in Japan where the legacy of our humble beginnings still lingers.
Today, our international UNIQLO operation is gaining momentum, backed by a strong presence in fast-growing Asian nations led by China, Hong, Kong, South Korea and Taiwan. We are preparing the infrastructure for mass new store openings in these nations as well as the capacity to source and train local personnel to dispatch across a global network. Within a few years, I want us to be able to consistently open between 200 and 300 new stores overseas each year, and I am looking for UNIQLO International to overtake UNIQLO Japan in terms of sales in fiscal 2015.
UNIQLO Clothes as "The Elements of Style"
We may be shifting our focus for future UNIQLO growth overseas, but we do not intend to disregard the Japanese home market. Indeed, to be successful, we must become the overwhelming number one brand in Japan too. To that aim, we plan to open showcase global flagship stores in Tokyo's Ginza in spring 2012 and Shinjuku in fall 2012.
I believe the opening of these impressively spacious, eye-catching global flagship stores will transform the UNIQLO brand in Japan too. Our ultimate goal is to perfect the Essence of UNIQLO - clothes as the elements of style, clothes that suit your values, clothes made for all. We seek, through clothes, to genuinely enrich peoples' lives in Japan and around.
The expansion of g.u.
Our low-priced casualwear is also poised for a new stage of impressive growth in fiscal 2012. Sales have begun to expand favourably thanks to the positive impact from TV commercials and the opening of flagship stores in Shinsaibashi and Ikebukuro East Exit. We fully expect the g.u. operation to shift up another gear with the opening of a new flagship store in Ginza in spring 2012, drawing even more attention to this label offering stylish fashion at ultimate low prices.
The Fast Retailing Group will forge ahead united in our corporate mission to change clothes, change conventional wisdom and change the world. We will continue our challenge to become a new kind of global company from Japan, enabling all people, all over the world to experience the joy of wearing truly good casual clothes.