Latest news with #TadashiYanai
CNA
5 days ago
- Business
- CNA
Gaia Series 94: UNIQLO's "Secondhand Clothing Project"
UNIQLO's bold secondhand clothing venture weaves sustainability with business, confronting challenges and redefining reuse. At the heart of the fast fashion landscape, UNIQLO is shifting its trajectory toward sustainability by exploring the potential of secondhand clothing. The latest episode of Dawn of Gaia follows the company's effort to make reused garments a viable business, treating this transformation not just as an environmental response, but a bold commercial experiment. In Paris, the UNIQLO Paris Opera store stands across from the historic Opera House. Though prices are more than 50 per cent higher than in Japan, customers remain loyal. A popular hoodie that costs around 4,000 yen (S$34.30) in Japan sells for approximately 6,400 yen in France. 'I always buy the same products at UNIQLO. The price is cheaper than other stores, and the product is great,' one shopper explains. Another adds, 'It's great quality for the price and great customer service.' Today, UNIQLO operates 2,541 stores across 26 countries and regions, and Fast Retailing, its parent company, reported revenue of 3.1038 trillion yen. Chairman Tadashi Yanai has bigger ambitions. 'A 10 trillion-yen target is not unrealistic at all,' he says. 'Changing clothes, changing norms, changing the world... this is the challenge we will continue to take on.' But the fashion industry's environmental record is hard to ignore. Global garment production has doubled in the past 20 years. But at the same time, the number of clothes that are thrown away have similarly increased. In Japan alone, about 1.5 billion garments go unsold each year and are often discarded. With the European Union preparing to ban the disposal of unsold clothing from 2026, the urgency to innovate has never been greater. At the Sendai warehouse, around 10 million used garments are collected annually. These clothes are sorted by hand and then donated to 81 countries and regions. Yet UNIQLO is determined to go further, not just recycling but creating a profitable business model around reuse. Tasked with launching this new venture is third-year employee Yoko Otaka. She is responsible for selecting and pricing garments for resale. But balancing cost and perceived value proves tricky. Uniqlo's clothes are already priced affordably, add to that laundry and shipping cost, it's hard to make a profit without increasing costs. But at the same time, as Otaka notes: 'Unless it's 1,000 yen, it might not feel like a bargain'. To add value, UNIQLO partners with Komatsu Matere, a dyeing factory in Ishikawa with over 80 years of history. Selected garments are dyed using a unique pressure chamber method. 'This dyeing method really brings out the charm of secondhand clothing,' says Otaka. 'That's why we chose this 'Gamedye' technique to attain these goals.' The Setagaya-Chitosedai store in Tokyo becomes the first test location. Items, including denim priced at 2,000 yen, are displayed in a way that encourages discovery. 'Grouped by colour but with variety within each group, so customers can still enjoy a broad selection,' Otaka explains. 'That gives it a slightly different feel from your typical UNIQLO store.' On March 29, test sales begin. Ayaka Enomoto from the Sustainability Department says to customers, 'Each piece is one-of-a-kind, a once-in-a-lifetime find, so please do have a look.' Early reactions are positive. 'Kind of like a secondhand clothes shop, but since it's UNIQLO recycling, it feels a bit more reassuring,' says one customer. Still, challenges surface quickly. At the Tenjin store in Fukuoka, which attracts a different demographic, issues around sizing become clear. 'A women's large is not the same as a men's large,' a customer points out. Another says, 'This is a women's medium?' with disbelief. Store staff also report that shrinkage often makes size labels inaccurate. 'Some pieces shrink one or two sizes,' one staff member notes. 'So using the original size label can actually cause more confusion.' In response, Otaka and her team begin remeasuring garments, starting with body width. 'We're figuring out what is the best method to manage size and colour,' she says. Clothes are now sorted by how far they reach on a measuring mat, and markers are colour-coded for easy reference. Despite such tweaks, the Setagaya store underperforms. In the first 20 days, it sells 334 items for a total of 680,000 yen, falling short of Otaka's target of 300 to 400 items per week. Koji Yanai, director of Fast Retailing, points out, 'It doesn't really feel like 'us'. It comes off as just a secondhand clothing shop.' The team regroups, seeking to address key concerns. One persistent issue is cleanliness. 'Some items still have a bit of a lingering smell,' a staff member reports. Back at UNIQLO's Shinonome factory, a special detergent blend is developed. 'It removes body oils from the fabrics without damaging weakened fibres,' explains knitwear specialist Mr Miyamoto. The results are promising. 'It used to be so flat. Now it's fluffy again,' one tester observes. 'The smell is... completely gone.' In October, the Maebashi Minami IC store is selected as a new trial site. This time, pricing is reviewed. Items once sold at 3,000 yen are reduced to 2,000 yen. 'Though profit shrinks due to high costs, they prioritised getting more hands on quality garments,' the narrator explains. The bold pricing strategy pays off. 'At 1,200 yen, well… it's quite affordable,' a customer comments after buying a shirt. 'Only UNIQLO could pull this off.' An unexpected insight emerges when smaller garments, shrunk beyond adult use, find a second life as children's wear. A mother comments, 'Actually, it's a perfect fit.' Signs featuring child models are added, and demand follows. 'There was demand in an unexpected place,' Otaka reflects. With all three test stores turning a profit, the project is handed over to the Sales Department in April for full commercialisation. Still, questions remain. 'Here in the 21st century, it's clear that chasing profit alone won't sustain a business,' Otaku muses, 'What exactly should UNIQLO secondhand clothing be?' Otaka asks. 'We're still figuring it out.' The episode closes with Otaka musing, Honestly, that's what I find really difficult right now. It's what I'm thinking about every day.' Her words encapsulate UNIQLO's dilemma: balancing the expectations of a global brand with the demands of a planet in crisis.
Business Times
03-06-2025
- Business
- Business Times
Japan's richest ride yen gains; Uniqlo boss Tadashi Yanai leads 2025 pack with record US$48 billion fortune
[SINGAPORE] The total wealth of Japan's 50 richest individuals on Forbes' 2025 list climbed 14 per cent to US$228 billion on the yen's strength, even as the country slashed its economic growth estimate. The fortunes of 37 individuals on the list rose as a strengthened yen boosted net worth, even as the benchmark Nikkei 225 index was down by almost 2 per cent since fortunes were last measured, Forbes Japan said in a Tuesday (Jun 3) statement. The minimum net worth to qualify for the list rose to U$1.2 billion from $980 million last year. The country's wealthiest person, billionaire Tadashi Yanai - the chief executive officer of Fast Retailing, which owns Uniqlo - added more than US$10 billion to take his fortune to an all-time high of US$48.2 billion. Shares of Fast Retailing were up 20 per cent as it reported double-digit growth in revenue and net profit for the first six months ended February. However, the company trimmed its growth forecast in light of US tariff threats as it derives 8 per cent of revenue from the North American market. SoftBank Group founder Masayoshi Son retained his spot in second place with a US$28.2 billion fortune, as the technology investor reported its first annual net profit in four years for the fiscal year ended March. Son is investing billions in artificial intelligence (AI) - including in the US$500 billion Stargate Project, a joint venture with OpenAI, Oracle and MGX to build AI data centres in the US. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Founder of sensor manufacturer Keyence, Takemitsu Takizaki, came in third place, although his net worth dipped slightly from the previous year to US$20.7 billion. Nobutada Saji, the chairman of beverage powerhouse Suntory, came in fourth place as his wealth grew to US$10.5 billion, up US$1.2 billion from last year. Yasumitsu Shigeta, the chairman of Tokyo-listed mobile phone retailer Hikari Tsushin, joined the ranks of the top five wealthiest for the first time, standing in fifth position. Shares of his company - which also supplies electricity and gas to small and midsized businesses - rose 62 per cent in the past year on higher sales and profits and propelled his net worth to US$6.9 billion from US$4.2 billion a year ago. Video games billionaire Kagemasa Kozuki was the biggest gainer in percentage terms. His fortune doubled to US$3.5 billion as he climbed up nine places to seventeenth position. Konami Group, which he founded, chalked up more than 850 million downloads globally for its eFootball game which has Lionel Messi as a brand ambassador. The digital entertainment producer sold more than two million copies of the horror game Silent Hill, released in October 2024. Among the nine whose wealth decreased was the Sekiya family, in eighth position, as shares of their chip-equipment maker Disco tumbled by nearly 40 per cent, cutting its net worth by US$2.4 billion to US$5 billion. The company was hit by concerns over tariffs and the strengthening yen. Shintaro Tsuji, who founded the company behind the Hello Kitty brand, Sanrio, returned to the list in thirty-second position with a US$1.7 billion fortune. The Hello Kitty brand has regained sheen under his 36-year-old grandson Tomokuni Tsuji, the president of Sanrio. The list was compiled using shareholding and financial information obtained from families and individuals, stock exchanges, annual reports and analysts. Private companies were valued based on similar companies that are publicly traded and net worth determined based on stock exchange prices and exchange rates as at the market close on May 9, 2025. Japan has cut its economic growth estimate for the year to 0.5 per cent from 1.1 per cent, as the nation braces for the impact of tariffs by the US, its biggest export market.
Forbes
03-06-2025
- Business
- Forbes
Wealth Of Japan's 50 Richest On Forbes List Rises 14% To US$228Billion
Uniqlo founder Tadashi Yanai remains at No. 1 SINGAPORE (June 3, 2025) – The collective wealth of Japan's 50 Richest on the 2025 Forbes list rose 14% to US$228 billion, helped by a stronger yen. The complete list can be found at and as well as in the June issue of Forbes Asia. Bracing for the impact of tariffs from the U.S., its biggest export market, Japan cut its economic growth estimate for this year to 0.5% from 1.1%. The benchmark Nikkei 225 index was down nearly 2% since fortunes were last measured, but a stronger yen helped boost net worths of the country's 50 richest. Overall, 37 people on the list saw an increase in their wealth. The country's richest person, Tadashi Yanai, the retailing billionaire behind the Uniqlo clothing brand, added more than $10 billion and propelled his fortune to an all-time high of $48.2 billion. Shares of his Fast Retailing were up 20% as it reported double-digit growth in both revenue and net profit for the first six months ended February. Though the company gets only 8% of its revenue from the North American market, it has cut its growth forecast in light of the tariff threat. Masayoshi Son, founder of SoftBank Group, which reported its first annual net profit in four years for the fiscal year ended March, retained the No. 2 spot with $28.2 billion. Son is making multibillion dollar investments in AI, including in the $500 billion Stargate Project, a joint venture with OpenAI, Oracle and MGX to build AI data centers in the U.S. Taking the third spot on the list is Takemitsu Takizaki, founder of sensor manufacturer Keyence, who saw his net worth fall slightly to $20.7 billion. The wealth of Nobutada Saji (No. 4), of Suntory Holdings rose to $10.5 billion, up $1.2 billion from last year. Entering the top five ranks for the first time is Yasumitsu Shigeta (No. 5), chairman of Tokyo-listed mobile phone retailer Hikari Tsushin, which also supplies electricity and gas to small and midsized businesses. Shares of the company were up 62% in the past year on higher sales and profits, boosting Shigeta's net worth to $6.9 billion from $4.2 billion last year. The biggest gainer in percentage terms is video games billionaire Kagemasa Kozuki, whose fortune doubled to $3.5 billion, and he moved up nine places to No. 17. His Konami Group, which has racked up over 850 million downloads globally for its eFootball game with Lionel Messi as one of its brand ambassadors, scored another hit selling over two million copies of horror game 'Silent Hill 2,' which was released last October. Among the nine whose fortunes fell is the Sekiya family (No. 8), as shares of their chip-equipment maker Disco tumbled nearly 40%, pulling their net worth down by $2.4 billion – nearly a third – to $5 billion. The company was impacted by concerns over tariffs and the rising yen. The three returnees this year include Shintaro Tsuji (No. 32, $1.7 billion), founder of Sanrio, the company behind the iconic Hello Kitty brand, which has regained its sheen under Tsuji's 36-year-old grandson Tomokuni. The minimum net worth to qualify for the list rose to $1.2 billion from $980 million last year. The top 10 richest in Japan are: This list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, annual reports and analysts. The ranking lists both individual and family fortunes, including those shared among relatives. Private companies were valued based on similar companies that are publicly traded. Net worths were based on stock prices and exchange rates as of the close of markets on May 9, 2025. The list can also include foreign citizens with business, residential or other ties to the country, or citizens who don't reside in the country but have significant business or other ties to the country. For more information, visit and About Forbes Forbes champions success by celebrating those who have made it, and those who aspire to make it. Forbes convenes and curates the most influential leaders and entrepreneurs who are driving change, transforming business and making a significant impact on the world. The Forbes brand today reaches more than 140 million people worldwide through its trusted journalism, signature LIVE and Forbes Virtual events, custom marketing programs and 42 licensed local editions in 68 countries. Forbes Media's brand extensions include real estate, education and financial services license agreements. For media queries, please contact: Catherine Ong Associates Pte Ltd Catherine Ong, cell: +65 9697 0007, Email: cath@ Chenxi Wang, cell: +65 8187 3215, Email: chenxi@
Forbes
02-06-2025
- Business
- Forbes
Japan's 50 Richest 2025: As A Stronger Yen Boosts Wealth, Uniqlo Billionaire Tadashi Yanai's Net Worth Hits A Record High
No. 1 Tadashi Yanai. Toru Hanai/Bloomberg This story is part of Forbes' coverage of Japan's Richest 2025. See the full list here. Bracing for the impact of tariffs from the U.S., its biggest export market, Japan cut its economic growth estimate for this year to 0.5% from 1.1%. The benchmark Nikkei 225 index was off nearly 2% since we last measured fortunes, but a stronger yen helped to boost collective wealth of the richest by 14% to $228 billion. Overall 37 people on the list are richer, led by the country's richest person, Uniqlo billionaire Tadashi Yanai, who added more than $10 billion and boosted his fortune to an all-time high of $48.2 billion. Shares of his Fast Retailing were up 20% as it reported double-digit growth in both revenue and net profit for the first six months ended February. Though the company gets only 8% of its revenue from the North American market, it has cut its growth forecast in light of the tariff threat. Masayoshi Son, founder of SoftBank Group, which reported its first annual net profit in four years of $7.8 billion for the fiscal year ended March, retained the No. 2 spot. Son is making multibillion dollar investments in AI including in the $500 billion Stargate Project, a joint venture with OpenAI, Oracle and MGX to build AI data centers in the U.S. Entering the top five ranks for the first time is Yasumitsu Shigeta, chairman of Tokyo-listed mobile phone retailer Hikari Tsushin, which also supplies electricity and gas to small and midsized businesses. Shares of the company were up 62% in the past year on higher sales and profits, lifting Shigeta's net worth to $6.9 billion. The biggest gainer in percentage terms is video games billionaire Kagemasa Kozuki, whose fortune doubled to $3.5 billion and he moved up nine places to No. 17. His Konami Group, which has racked up over 850 million downloads globally for its eFootball game with Lionel Messi as one of its brand ambassadors, scored another hit selling over two million copies of horror game 'Silent Hill 2' since its October release. Among the nine whose fortunes fell is the Sekiya family as shares of their chip-equipment maker Disco tumbled nearly 40%, pulling their net worth down by $2.4 billion—nearly a third—to $5 billion. The company was impacted by concerns over tariffs and the rising yen. The three returnees this year include Shintaro Tsuji, founder of Sanrio, the company behind the iconic Hello Kitty brand, which has regained its sheen under Tsuji's 36-year-old grandson Tomokuni. Three people dropped off, including Keiichi Shibahara, founder of Amvis Holdings. Shares of the home nursing care provider plunged 80% on reports that it had overcharged customers for services. The company said in March that it had set up a special investigation committee and would be delaying the financial results for the first six months of the fiscal year ending September 2025. The minimum net worth to qualify for the list rose to $1.2 billion from $980 million in the previous year. Full Coverage of Japan's Richest 2025: Editing assistance and reporting by Anuradha Raghunathan. Reporting by James Simms. Methodology: This list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, annual reports and analysts. The ranking lists both individual and family fortunes, including those shared among relatives. Private companies were valued based on similar companies that are publicly traded. Net worths were based on stock prices and exchange rates as of the close of markets on May 9, 2025. The list can also include foreign citizens with business, residential or other ties to the country, or citizens who don't reside in the country but have significant business or other ties to the country. The editors reserve the right to amend any information or remove any listees in light of new information.
Business Times
23-05-2025
- Business
- Business Times
Uniqlo founder Tadashi Yanai to buy 300 million euro Milan building
[TOKYO] Uniqlo founder Tadashi Yanai has agreed to buy a building in Milan's Piazza Cordusio where the brand's flagship store is located. The Japanese billionaire will pay more than 300 million euros (S$437.5 million) for the 19th century building in the city's central square, people familiar with the transaction said, asking not to be identified because the details are private. The 161,000-square-feet structure, called Cordusio 2.0 – acquired by Hines in 2016 – has been home to Uniqlo's store since 2019. Yanai's net worth is about US$50 billion, according to the Bloomberg Billionaires Index. Milan's property sector has seen a renaissance in recent years as revitalisation projects have helped transform several run-down neighbourhoods into upscale landmark zones. Last year, Gucci owner Kering SA spent 1.3 billion euros for a property on Milan's Via Monte Napoleone, its toniest shopping street. Piazza Cordusio, close to Piazza Duomo, is also the location Starbucks chose for its first outlet in Italy. A representative for Fast Retailing, Uniqlo's owner, was not immediately able to comment, while a Hines spokesperson declined to comment. Green Street News reported the deal earlier on Thursday. BLOOMBERG
