MBA 350 Uniqlo

UNIQLO

References

Agenda

1. Introduction

2. Current Business

3. New Mission and Vision

4. New Corporate Portfolio

• Fashion Forward. (2012). Cheap, Chic, And Made For All: How Uniqlo Plans to Take Over Casual Fashion.Retrieved on June 17, 2017 from:

https://www.fastcompany.com/1839302/cheap-chic-and-made-all-how-uniqlo-pla ns-take-over-casual-fashion

• Krystina Gustafson. (2017). As Retailers Close Stores, the World’s Third-largest Apparel Players Takes Another Run at the US. Retrieved on June 15, 2017 from:

http://www.cnbc.com/2017/03/29/as-retailers-close-stores-the-worlds-third-larges t-apparel-player-takes-another-run-at-the-us.html

• Mallory Schlossberg. (2016). One of the most dominant global retailers is floundering in America. Retrieved on June 18, 2017 from:

http://www.businessinsider.com/uniqlos-disappointing-united-states-sales-2016-1

• Po-Yuan C, Human Resource Strategies of Japanese Company Facing Globalization : The Case Study of UNIQLO. [serial online]. 2016;Available from: Networked Digital Library of Theses & Dissertations, Ipswich, MA. Accessed June 18, 2017.

• PREIT. (2014). PREIT Executes First Portfolio UNIQLO Transaction to Open at Willow Grove Park in Suburban Philadelphia. Retrieved on June 18, 2017 from:

http://www.prnewswire.com/news-releases/preit-executes-first-portfolio-uniqlo-transaction-to-open-at-willow-grove-park-in-suburban-philadelphia-258954391.html

• UNIQLO. (2017). Brand Message. Retrieved on June 17, 2017 from: http://www.fastretailing.com/eng/group/strategy/

• Wang Hongyi. (2016). The Study of New Service Development in Uniqlo - Services Science Perspective. ISSN: EDSNDL

• Yen-Yu L. A Study on Brand Strategy:The Case Study of UNIQLO. [serial online]. 2015;Available from: Networked Digital Library of Theses & Dissertations, Ipswich, MA. Accessed June 18, 2017.

MADE FOR ALL.

1949 Yamaguchi, Japan Manufacturer

1800

Over stores (As of 28 February 2017)

1984 First retailing store Hiroshima, Japan

(Source: UNIQLO, 2017)

in U.S.

Recent Status in U.S.

“Asia's largest retailer can't pick up enough steam in the US.” (Business Insider, 2016)

American consumers were not familiar enough with the brand.

Transform store operation, store expansion strategy and online sales.

The brand needs to be more competitive.

<--------Internal/Company--------->

<---------External/Customer---------->

UNIQLO’s Sales challenge and strategy Napkin

Long working hours

2.Stereotyping image about Japanese brand & product element.

1. Unappealing Advertising

Lack of brand awareness

Clothing style

Most of American customers may be not enjoy Japanese style. In their eyes：

Improve local brand protection awareness, doing collaborations

Japanese brand=“Hitech” and/or “Expensive”

UNIQLO’s basic product offering is no longer resonating with the US consumer. Previously capitalizing on the normcore trend that saw consumers retreat from trend-driven products, the pendulum has swung back to favors fashion-forward and sports-inspired propositions. While UNIQLO’s lack of brand awareness has certainly made it difficult to actively compete in the market, perhaps the bigger issue is in the dwindling product category.

In Japan UNIQLO is really uncool among young people. UNIQLO is not too tempting to younger peeps because they're everywhere in Japan, like target or something in the States, and they are considered as a "cheap brand".

UNIQLO gives its Japanese workers a four-day week to roughly 10,000 full-time employees. Compared to Japanese workforce, US staffs said the working hours do not reflect what it says on paper. It’s quiet common to clock out and keep on working.

3.The Issue of Fit

Working culture

• The sizing in U.S. and the sizing in Asia don't necessarily correspond.

• The body styles in the US are certainly bigger than Asia.

• Perfecting the product；
• Always listening to what the customer says and feels.

Maybe for UNIQLO, it’s important to kindly adapt working culture along to the country of each store. It is very frustrated for employees when management wants to apply genuine Japanese culture to employees without considering their native culture at all

Word of mouth through social media

Using U.S attractive spokesperson rather than logo and words only.

New, simple idea wins!

"UNIQLOCK"

Absolute Eye catcher:

http://www.uniqlo.jp/uniqlock/

Overpriced

UNIQLO

’s New Business Portfolio

https://www.quora.com/Is-Uniqlo-cheaper-in-Japan-or-USA

http://www.japan-guide.com/forum/quereadisplay.html?0+112664

Although UNIQLO offers basic clothes with a good price, but compared to the price in Japan and Korea market, it’s slightly overpriced, this is probably due to the importing fees.

Product

• Classic
• Life wear
• Qualities
• Comfortable
• Low price

Technology

• Thin
• Soft and comfort
• Retain heat
• Generate heat
• Varieties of styles
• Varieties of levels of warmth
• Fast dry

$30-$50

UNIQLO

's New Mission & Vision

Competition

Current Mission: good quality, fashionable style, lowest price

Current Vision: to become the number 1 clothes retailer in the world. (UNIQLO, 2017)

New Mission : create clothes that enhances customers’ everyday lives

New Vision: Create a place for heightening people's minds

Source: Fashion Forward, 2015

MBA 350

Mengyang Wu