Business · Companies · 1 day ago
Uniqlo owner Fast Retailing reports 17% sales growth as it targets H&M and Zara
Tadashi Yanai built Uniqlo from a small clothing shop into a global fashion business.
The Japanese company’s parent, Fast Retailing, reported about €21.5 billion in sales in its latest financial year, up 17% from the year before.
Its operating profit rose by almost 32%.
H&M had sales of about €20 billion, while Inditex, Zara’s parent company, had nearly €40 billion.
Fast Retailing is growing quickly, and Yanai wants Uniqlo to overtake these major competitors.
Uniqlo’s approach is to sell simple, practical clothes at prices many people can afford.
Yanai, born in Ube, Japan, is estimated by Forbes to be worth about €58 billion.
The company’s next results will show whether its growth continues; no specific next step is given.}
Fast Retailing, the Japanese parent company of Uniqlo, reported sales growth of 17% in its latest financial year.
The company recorded revenue of about €21.5 billion and operating profit growth of nearly 32%.
Uniqlo founder Tadashi Yanai is aiming to overtake major rivals H&M and Zara, according to Bild.
The article says Fast Retailing’s revenue could put it ahead of H&M, while Inditex, Zara’s parent, remains larger.
Yanai founded Uniqlo’s first store in Hiroshima in 1984.
- Who
- Fast Retailing, the parent company of Uniqlo, and its founder Tadashi Yanai.
- What
- Fast Retailing reported sales growth of 17% and is seeking to overtake fashion rivals H&M and Zara.
- When
- The latest financial year; its dates are Not stated.
- Where
- Japan; Fast Retailing is described as a Japanese company.
- Why
- The article says Yanai wants Uniqlo to overtake major competitors.
This story does not have two clearly opposing sides.
Tadashi Yanai joined his family’s clothing business.
Yanai opened the first Uniqlo store in Hiroshima.
Fast Retailing recorded revenue of about €21.5 billion, up 17%, and operating profit growth of nearly 32%.
- Fast Retailing revenue
- About €21.5 billion
- Sales growth
- 17%
- Operating profit growth
- Nearly 32%
- H&M revenue
- About €20 billion, according to Bild
- Inditex revenue
- Nearly €40 billion, according to Bild
- First Uniqlo store
- Hiroshima, 1984
Sources
Related news
Why Two Railway Lines in Japan’s Far North Should Be Maintained
Japan cruise companies target younger travellers with shorter, cheaper trips
Japanese brewer creates wobbly glass to encourage drinking water with beer
Kawasaki Shows Z300 to Dealers Ahead of Expected India Launch
Yamaha Motor says data of about 1,600 website members may have leaked
Japan investigates four major brewers over alleged beer price-fixing
Thales plans to build a base in Japan, media report says
Japan urges oil stockpiling as Middle East risks rise
Shimamura posts record first-half results despite summer weather disruptions
Egg prices in Japan match record high as feed costs rise
Toyota develops wheelchair that fits in a car’s front passenger seat position
