Published: 2023-06-22 ǀ Updated: 2023-07-04
Company History
of Fast Retailing
Study the financial data for Fast Retailing.
K.K.. Fast Retailing is a Japanese fashion group listed on the Nikkei 225 index of the Tokyo Stock Exchange. In addition to the continued global expansion of its Uniqlo and G.U. brands, the company strives to minimize its own environmental impact, focusing on supply chains, human rights, recycled products, and solving social problems.
| Founded |
1963 as Ogori Shoji Co., Ltd. (Ube, Yamaguchi, Japan) 1991 as Fast Retailing Co., Ltd. (name change) |
| Founder | Hitoshi Yanai |
| Headquarters | 10717-1, Sayama, Yamaguchi City, Yamaguchi, Japan |
| Key people |
Tadashi Yanai (Chairman, President and CEO) Shimpei Otani (CTO) Makoto Hoketsu (CIO) |
| Products | Clothing and accessories |
| Areas |
Fashion Shoes |
| Subsidiaries |
Comptoir des Cotonniers Helmut Lang Foot Park G.U. J Brand Princesse tam-tam Theory Uniqlo |
| Website | www.fastretailing.com/eng |
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1949: The family men's clothing store opens
Hitoshi Yanai opens a men's clothing store called Ogōri Shōji in the western Japanese city of Ube (Yamaguchi).
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1963: Foundation of Ogori Shoji Co., Ltd.
Ogori Shoji Co., Ltd. is established with a capital of 6 million yen.
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1972: Support from the son
Yanai's son Tadashi joins his father's business.
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1984: A first branch office opened
Tadashi Yanai opens a store in Hiroshima, not far from Ube, selling inexpensive clothes for boys and teenagers. At the same time, he takes over the role of store manager from his father. Ogōri Shōji's store is called Uniqlo. At first, the clothes are mostly cheap imported goods, and the Uniqlo brand name is established only later.
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1985: Opening of the first Uniqlo store
The Yamanota store in Yamaguchi Prefecture is the first store to open under the Uniqlo brand name, setting a new standard for the brand's subsequent stores.
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1991: Renamed Fast Retailing
The family business changes its name to Fast Retailing. The store in Hiroshima closes.
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1994: Initial public offering in Hiroshima
The company goes public in Hiroshima.
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1996: Opening of an office in Tokyo
In order to intensify the internal planning and development of the products, the company opens an office in Tokyo.
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1998: Completion of the headquarters
Construction of the Yamaguchi Headquarters is completed and the company's new headquarters is established. The Harajuku store in Tokyo opens as Uniqlo's first urban store.
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1999: Initial public offering in Tokyo
The Hiroshima IPO is followed this year by the Tokyo IPO. Another office is opened in Shanghai to further optimize production management.
Since then, the company's low prices have made it a global success with a fashion-conscious public, and it continues to set new trends. In particular, the Uniqlo retail chain is considered financially successful and generates a large portion of Fast Retailing's sales. -
2000: Opening of the online store
This year sees the launch of the company's own online store. The company's main activities are shifted to Tokyo to drive marketing and merchandising from there.
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2001: Internationalization of the business
The company opens its first office outside Japan with a branch in London.
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2002: Change in the management level
While Tadashi Yanai has been President and CEO of the company since 1984, Genichi Tamatsuka succeeds him as President from 2002 to 2005. The Uniqlo Design Studio - now known as the R&D Center - begins operations. The same year, the first Uniqlo store opens in Shanghai.
The company enters the grocery market with the Skip brand, which is discontinued two years later. -
2004: National Standard and Link Theory Holdings Co Ltd.
The company acquires the women's fashion brand National Standard. However, it was discontinued just two years later. Fast Retailing also acquires a 32.32% stake in the U.S.-Japanese Link Theory Holdings (LTH), under whose umbrella brands such as theory and Helmut Lang are sold.
The first large store with more than 1,600 square meters of sales space opens in Shinsaibashi, Osaka. Another Uniqlo design studio is established in New York. A joint venture with South Korea's Lotte Shopping Co. is established to strengthen the South Korean market. -
2005: Second term for Tadashi Yanai
Tadashi Yanai, the son of the company's founder, becomes president for a second term. The company changes to a holding structure to develop new business opportunities.
The shoe retail chain Onezone Corporation becomes a subsidiary of the company. The same goes for Aspesi Japan Co, Ltd, the Japanese branch of the Italian company.
Successful acquisition of the Comptoir des Cotonniers brand, founded in Paris in 1995, with boutiques in Belgium, Germany, the United Kingdom, South Korea, the United States and Japan. Comptoir des Cotonniers Japan Co, Ltd. was established shortly thereafter.
The expansion of Uniqlo stores continues. A store opens in Hong Kong and another in New Jersey. In Tokyo's popular Ginza shopping district, the first Body by Uniqlo store for specialty women's lingerie opens - until the concept is discontinued in 2009 and the store closes. The same goes for Uniqlo Kids, which also opens a store this year. -
2006: Failed takeover attempt
Fast Retailing tries to take over the Hong Kong-based competitor Giordano International in the Asian market. The attempt fails. The following year, Fast Retailing attempts to acquire Barneys New York from the Jones Apparel Group.
Nevertheless, expansion continues. Petit Vehicule S.A.S., which operates the Princesse tam-tam brand, becomes a subsidiary. The first Comptoir des Cotonniers store opens in Japan.
Fast Retailing creates the G.U. brand to offer low-priced casual clothing, and the first store opens in Chikawa City, Chiba Prefecture, Japan, the same year. The Group acquires another company by investing in Cabin Co, Ltd, a women's apparel company. Finally, Fast Retailing enters into a strategic partnership with Toray Industries, Inc. and acquires a stake in Viewcompany Co, Ltd, a retail chain specializing in women's footwear, which is fully integrated into the Group in 2008 and renamed Uniqlo Co, Ltd in 2010. The Soho store in New York becomes Uniqlo's first global flagship store. -
2007: Large-scale stores and flagship stores
This year, several stores with sales areas of 3,000 square meters and more will open around the world. In London, the Oxford Street store is Uniqlo's second flagship store.
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2008: Sale of Aspesi Japan
The recently acquired 60% stake in Aspesi Japan will be returned to the Italian apparel manufacturer Aspesi this year. With the acquisition of the remaining shares, Viewcompany Co, Ltd. becomes a wholly owned subsidiary. It merges with G.U. and Onezone Corp. to form Gov Retailing Co, Ltd.
Fast Retailing forms a joint venture with Wing Tai Retail Pte Ltd to expand its operations in Singapore.
The Uniqlock blog part wins the Grand Prix at the Cannes Lions International Festival of Creativity, considered one of the three most important advertising competitions in the world. -
2009: Takeover of LTH
The company celebrates its 60th anniversary.
The shareholding in LTH, which has existed since 2004, is increased to 100 percent this year for around 240 million euros and LTH is thus integrated into the Fast Retailing Group as a subsidiary.
The 999 yen jeans of the G.U. brand become a bestseller in Japan. The company signs a consultancy agreement with world-famous designer Jil Sander. Sales of the first collection created under her direction begin in the same year. The company also partners with wheelchair tennis pro Shingo Kunieda.
The Paris Opera Store, the brand's third flagship store, opens in Paris. -
2010: Subsidiary in Taiwan
Uniqlo continues to expand this year, establishing a wholly owned subsidiary in Taiwan. The Shanghai West Nanjing Road Store and the Shinsaibashi Store in Osaka are the fourth and fifth flagship stores to open. Other stores are under construction in Russia, Taiwan and Kuala Lumpur. Uniqlo and Toray Industries, Inc. extend their strategic partnership.
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2011: Star designer:inside the company
Between 2009 and 2011, as creative director of Uniqlo, Jil Sander launches her own label +J, for which she receives the Brit Insurance Fashion Award at the London Design Museum in 2011. Tennis pro Kei Nishikori signs a sponsorship deal.
Comptoir des Cotonniers is headed by Delphine Ninous, who has worked for Christian Lacroix, Diane von Furstenberg and Isabel Marant.
A global partnership agreement is signed with the United Nations High Commissioner for Refugees (UNHCR) to strengthen ongoing initiatives such as the recycling of all products. In parallel, the company continues to donate to earthquake victims and others in need.
The company's global presence continues to expand this year with the opening of new flagship stores in prestigious locations such as the Mingyao Department Store in Taiwan, the Fifth Avenue Store in New York and the Myeongdong Central Store in Korea. -
2012: Largest clothing retailer in Japan
Uniqlo now operates in Japan, China and Hong Kong, South Korea, Malaysia, Singapore, the Philippines, Russia, the United Kingdom, Thailand, Taiwan, the United States and France. In Japan alone, there are more than 700 stores out of a total of approximately 1,100. This has made the company Japan's largest clothing retailer, and it has now opened a G.U. store in Tokyo in addition to the Uniqlo flagship store. The concept involves the sale of low-price, basic branded clothing, in some cases in collaboration with designers such as Philip Lim and Alexander Wang.
For the fall/winter collection, Comptoir des Cotonniers and Uniqlo are collaborating on a lightweight down jacket edition that perfectly combines Parisian "boite" style with Japanese ultra-light premium down technology. Another collaboration is between Uniqlo and Undercover. Novak Djokovic becomes the company's global brand ambassador.
The company acquires an 80% stake in premium denim company J Brand for $290 million plus $10 million in legal fees. -
2013: Acquisition of further brand ambassadors
Adam Scott joins Novak Djokovic as global brand ambassador. The Lee Theatre store is the brand's 10th flagship store to open in Hong Kong, and the Shanghai store is the brand's 11th flagship store to open in the same year.
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2014: The first branch opens in Germany
Uniqlo opens its first German store and flagship in Berlin. The company launches a joint collection with Ines de la Fressange. The company also expands to Australia and continues to grow the G.U. store network.
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2015: Foundation of Wearex Co., Ltd.
The new Magic for All project launches in partnership with Disney. Fast Retailing and Accenture plc establish Wearex Co, Ltd to accelerate the adoption of innovative IT systems. The partnership with Toray Industries to develop functional materials continues with a third five-year plan.
The Uniqlo and Lemaire collection is another joint designer line. -
2016: Further expansion
The newly renovated Oxford Street flagship store celebrates its reopening. The Fifth Avenue store also reopens. A state-of-the-art distribution center is built in Tokyo.
Sales of the U-Line, developed by Creative Director Christofe Lemaire and his team at the Research Center in Paris, begin in existing stores and in new stores opening later this year. -
2017: Store concept innovation
Product and business affairs are moved from the Roppongi office to the Ariake office.
Stores will get new features such as "Shop by Look," which allows customers to purchase recommended seasonal products as a complete outfit, and the ability to have online purchases delivered to a nearby convenience store.
A new collection from Uniqlo is being developed in collaboration with JW Anderson. -
2018: Strategic partnership to optimize logistics
The company is included in the FTSE4Good Index Series and the FTSE Blossom Japan Index.
Tennis player Roger Federer becomes Uniqlo's third global brand ambassador. Professional snowboarder Ayumu Hirano follows later that year.
The strategic partnership with Shima Seiki Mfg, Ltd. is expanded to include mass production of Whole Garment® products. In logistics, the company enters into a global partnership with material handling equipment manufacturer Daifuku Co. The fully automated distribution center in Ariake is put into operation as a warehouse for online sales.
Fast Retailing joins the UN Global Compact. -
2019: Supply chain transformation
The year is marked by the opening of new offices in India, Italy, Denmark and Vietnam. A new supply chain redesign agreement is signed with Daifuku Co, Ltd, MUJIN, Inc and Exotec Solutions SAS.
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2020: Contributions to sustainability
During the pandemic, the company contributes through generous donations. The Re.Uniqlo system is designed not only to further support refugees with clothing, but also to support the recycling of collected used clothing into entirely new products. The company is taking further steps towards sustainability by being included in the CDP's Water Safety A list, the highest international indicator for measures to protect water resources.
With the Uniqlo Park Yokohama Bayside store, the company offers a novel store concept that provides fun for the whole family. Uniqlo Harajuku, on the other hand, pursues a technologically novel concept with a mix of real and virtual shopping experiences. Life Wear opens a global flagship store in Tokyo.
11 years after the first joint collection, the +J collection with Jil Sander hits the stores.
Accounting for 80% of Fast Retailing's sales and 90% of its profits, Uniqlo is a critical factor in the company's success. At the end of the summer, the company operated 3,630 stores worldwide, including 813 Uniqlo stores in Japan and another 1,439 worldwide. Fast Retailing will be included in the MSCI Japan ESG Select Leaders Index this year. -
2021: Consideration of customer requirements
The company develops an in-house photo studio, a new customer center, and a virtual store at its headquarters in Ariake to make customer contact more immediate and direct, and to incorporate customer wishes directly into product and service development. The company continues to expand its operations in China with flagship stores in Taipei and Beijing.
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2022: Record sales thanks to Uniqlo
In October, the G.U. pop-up store opens in Soho, New York. With annual sales of 2.30 trillion yen. Yen, Uniqlo now has 2,934 stores worldwide and sales of 1,929 trillion yen. The G.U. brand, on the other hand, has sales of 246 billion yen.