Reading about Japan increased my curiosity. Mainly about the Japanese who like the many rare breeds in the world, become relentless about their personal successes. One such person is Tadashi Yanai, who with a net worth of $ 36 Billion, (as per FORBES) stands tall among all the Japanese.
- Tadashi Yanai is the Chairman and CEO of Fast Retailing Company of Japan with the brand name UNIQLO. This company has over 2500 stores selling apparel, competing with brands like GAP, H & M, and ZARA.
- Born in February 1949, to the owner of a tailoring shop, Yanai was raised not in a rich environment. He assisted his father in sweeping the floor, cleaning the shop, and brushing the clothes.
- Graduating in 1971, from a University in Japan, Yanai was employed in a supermarket for a year or so. This one year gave him an earthly touch of what the customer’s preferences are as regards clothing is concerned. He set up his own apparel store in 1984 and there is no looking back.
Higher quality at cheaper prices.
- ?The motto of Yanai is that customers should have high-quality products at the most competitive prices. UNIQLO stores are always preferred since the most trending products are available at cheaper prices. The youth are crazy about trendy-looking products.
- “High turnover of business with low profits”, Yanai explains to the employees. “The merchandise should not be on the shelves for more than 48 hours,” he asserts.
- Tadashi Yanai had entered into a collaboration with TORAY Industries, a chemical company in Japan, manufacturing everlasting dyes and chemicals for clothes. The collaboration continues even today after 20 years.
Tenacity and Audacity. Expand in Southeast Asia.
- Being a tough boss, he is tenacious to build as many as 2500 stores all over the world. “Do or die” is always his attitude for success. He never gives up on his goal of increasing sales.
- The Fast-Retailing Company is listed in all the stock exchanges in the world including, the New York exchange. The company has more than 835 stores in China, 815 stores in Japan, and several hundred in Southeast Asia, in countries of Taiwan, Singapore, Indonesia, Vietnam, Malaysia, South Korea, and Cambodia.
- In the US and in Europe, the stores are only in a handful of numbers. The reason is that these apparel do not have adequate sizes fitting the men and women of the US and Europe. Yanai’s designers are working continuously to make the apparel suitable for the Western markets too.
Challenges of the huge market in the US and in Europe.
- Tadashi Yanai is emphatic about the gigantic apparel market of the universe. He is preparing his company to face the challenges and the opportunities.
- New employees are taught the culture of KAIZEN, which is the pursuit of perfection. All the employees willingly work for longer hours in times of need.
- Yanai is also a kind boss and is considered a father figure. His philanthropic attitude is appreciated by all. He always talks of bettering society and the world through his welfare schemes set up by his companies for the welfare of his employees.
- He proposes to sell high-quality, highly functional, and simple apparel for all. He is certain that kind of objective alone will sustain the company for many years.
- All his policies are customer oriented. Tadashi Yanai receives emails appreciating the products as well as complaints even today. He acts on these complaints. Appropriate replies are also sent regularly.
- It will not be surprising to me if some of you build a company with a disciplined work culture emulating success like Tadashi Yanai. I wish you the best.
?Have you tried any of UNIQLO’S apparel? Do you like them?
Please leave your comments below.
Regional Sales Director at iDirect Asia Pte. Ltd.
7 个月Hi Tadashi san. I am quite a regular customer of yours in Singapore. Today i went to your Parkway Parade store and asked the cashier if he can push a hole in my belt. He asked me if i bought this from Uniqlo I said no and he just flatly tell me NO. For your information, there was a Isetan store in the same place last time and when I asked them to punch a hole in my belt they will happily do it without asking if I bought it from Isetan. So it's a surprise that your staff there are so rigid that it must be bought from Uniqlo. This shows that your company does not show any goodwill at all.
What a fascinating read! Tadashi Yanai's journey from a humble background to becoming a business tycoon with a net worth of $36 billion is truly inspiring. His commitment to providing high-quality products at competitive prices through UNIQLO stores is commendable. I admire his tenacity and audacity in expanding the business globally. The concept of "high turnover of business with low profits" is intriguing and shows his understanding of customer preferences and the importance of staying relevant in the fast-paced fashion industry. I appreciate his emphasis on the culture of KAIZEN and how he cares for his employees like a father figure, fostering a disciplined work culture. It's heartening to know about his philanthropic initiatives and his efforts to better society through welfare schemes for his employees. As for UNIQLO's apparel, I have personally tried them, and I must say, I'm impressed with their trendy and functional designs. The affordability without compromising on quality is a huge plus point. Kudos to Tadashi Yanai and the entire UNIQLO team for their dedication to providing fashion-forward options to customers worldwide.
Business Collaborator (Expansion, Partnership, Growth) || Venture Catalyst || MBA ||Running Enthusiast (670+days streaks)
1 年Thank you so much for sharing the insightful article. Well, A minor update for you, Uniqlo is not yet here in Cambodia.