Uniqulo

I chose the company is UNIQLO. UNIQLO is a Japanese casual wear designer, manufacturer and retailer. The company founded in 1949 by Yamaguchi Abe. It was called Fast Retailing Co at that time. In November 1998, they opened their first urban UNIQLO store in Tokyo’s trendy Harajuku district, and outlets soon spread to major cities throughout Japan. In 2001, sales turnover and gross profit reached a new peak, and with over 500 retail stores in Japan, Uniqlo decided to expand overseas, establishing Fast Retailing (Jiangsu) Apparel Co., Ltd. in China (and in 2002, opening their first Chinese Uniqlo outlet in Shanhai) and opening their first four overseas outlets in London, England. In 2005, UNIQLO stores opened in the United States (New York), Hong Kong and South Korea. UNIQLO has been struggling to expand business overseas many countries recent years. That’s why a number of UNIQLO stores have established all over the world. According to the website, there are 851 stores in Japan, 234 overseas stores as of the end of 2012. As a result, year 2011 annual revenues were 600.1 billion yen (7.5 billion U.S dollars) in the country (Japan), 93.7 billion yen (1.1billion U.S dollars) in foreign countries.

One of the organization goals is that UNIQLO announced that the company would target annual group sales of 5 trillion yen (about 61.2 billion US dollars) and pretax profit from operations of 1 trillion yen (about 12.2 billion US dollars) by 2020. This means that the company is aiming to become the world’s biggest SPA with a continuous growth rate of 20% per year. The figure breaks down as 1 trillion yen from UNIQLO Japan business, 3 trillion yen from its international business, and 1 trillion yen from Japan-related and global brand business. The company’s international business target of 3 trillion yen breaks down as 1 trillion yen in China, 1 trillion yen in other Asian countries and 1 trillion yen in Europe and the United States.

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