Last Updated: 2008.08.29
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From leading Japanese firm to Asia's Number One, to the World's Number One. The challenge continues.
■ UNIQLO Japan goes from strength to strength
UNIQLO Japan achieved a significant rise in both revenue and profit in the first six months to February 08 with consistently favorable sales recorded from October 07 onwards. Several products also stood out for their strong performance. Our HEATTECH Innerwear surged ahead with a record 2 million units sold. Our jeans products were a hit. And strong promotion campaigns boosted sales of cashmere sweaters and premium down garments.
Not only did we enjoy a favorable first half at UNIQLO Japan, but UNIQLO International also turned a profit and Global Brands COMPTOIRS DES COTONNIERS and PRINCESSE TAM.TAM operations expanded over the period too. Consolidated interim net sales totaled ¥ 316.4bln (up 11.3% year on year) and ordinary income totaled ¥ 53.4bln (up 25.4% year on year). This marked the first joint rise in both revenue and profit for two years.
■ A new stage for UNIQLO International
At UNIQLO International, our global flagship store in New York is fulfilling its role as a UNIQLO showcase to the world excellently. The store also turned its first profit during the period. Our UNIQLO operations in China, Hong Kong and South Korea have really taken off, and we have begun accelerating store openings with the aim of developing a full chain of stores in those countries.
The thing that has struck us most as we continue to develop UNIQLO globally is how highly the quality of UNIQLO garments is appreciated by customers around the world. We have always been extremely attentive to quality in the manufacture of our cashmere and merino wool sweaters, our print T-shirts and our jeans, etc. And we have found that this insistence on quality is truly valued by customers not only in Japan but in every country that we trade. For us, this reinforces our own view that superior and reliable quality is the greatest of UNIQLO’s strengths.
UNIQLO International is now embarking on a new phase. By accelerating store openings in the Chinese, Hong Kong and South Korean markets, we are aiming to extend our reach from being a leading Japanese brand to being the strongest brand in Asia and then the world.
■ A new stage for UNIQLO International
At UNIQLO International, our global flagship store in New York is fulfilling its role as a UNIQLO showcase to the world excellently. The store also turned its first profit during the period. Our UNIQLO operations in China, Hong Kong and South Korea have really taken off, and we have begun accelerating store openings with the aim of developing a full chain of stores in those countries.
The thing that has struck us most as we continue to develop UNIQLO globally is how highly the quality of UNIQLO garments is appreciated by customers around the world. We have always been extremely attentive to quality in the manufacture of our cashmere and merino wool sweaters, our print T-shirts and our jeans, etc. And we have found that this insistence on quality is truly valued by customers not only in Japan but in every country that we trade. For us, this reinforces our own view that superior and reliable quality is the greatest of UNIQLO’s strengths.
UNIQLO International is now embarking on a new phase. By accelerating store openings in the Chinese, Hong Kong and South Korean markets, we are aiming to extend our reach from being a leading Japanese brand to being the strongest brand in Asia and then the world.
■ Creating a new structure to revitalize Japan Apparel
By focusing management resources on its main brands, we are starting to see clear results at women’s fashion retailer CABIN CO., LTD., part of our Japan Apparel operation. We are considering a change in management structures with a view to possible merger between three other domestic subsidiaries, low-cost brand developer G.U. CO., LTD., and footwear retailers ONEZONE CORPORATION and VIEWCOMPANY CO., LTD.
In our quest to become a globally competitive company, FAST RETAILING is now striving to become a leading company not only in Japan but also in Asia. This challenge spans all areas be it our clear and confident long-term strategy, the scale of our sales, our profitability, our level of customer satisfaction, the well being and diversity of our staff, or our contribution to society.
Tadashi Yanai, Chairman, President & Chief Executive Officer
May 2008
