Uniqlo surpasses Zara as world’s most valuable fashion brand

Uniqlo has surpassed Zara because the world’s most beneficial retailer. Dad or mum firm Quick Retailing has been valued at 81.7 billion euros compared to Zara’s 80.8 billion euros on the finish of Tuesday.

In accordance with Nikkei Asia, Quick Retailing’s shareholders are optimistic with the corporate’s give attention to Asia, particularly focusing on progress in China the place the economic system rebounded shortly from the coronavirus-triggered stoop due to the federal government’s containment efforts. The informal put on specialist can be seen as properly positioned to capitalize on the altering habits of customers, who’re extra inclined to decorate casually as telework spreads.

In 2020 Quick Retailing operated 2,298 international Uniqlo shops, of which sixty are positioned in Asia exterior of Japan. At 791 areas, China is the second largest market after Japan, with 815 shops.

“We’ve reached the place the place we’re inside attain of the No. 1 rank within the clothes area,” Quick Retailing Chairman and CEO Tadashi Yanai instructed workers firstly of the 12 months. He made good on that assertion by way of market worth: the inventory gained for seven straight classes to shut Tuesday at 102,500 yen, up 3 p.c from the earlier session and surpassing 100,000 yen for the primary time, based on Nikkei Asia.

In its newest buying and selling assertion, Uniqlo stated its January 2021 same-store gross sales together with on-line gross sales elevated by 2 p.c 12 months on 12 months whereas complete gross sales together with on-line gross sales elevated by 1.8 p.c. Similar-store gross sales rose 12 months on 12 months in January due to constantly chilly climate all through the month in addition to robust gross sales of merchandise that glad the continued robust demand for stay-at-home clothes and different gadgets.

Recognized for its good high quality fundamentals, Uniqlo founder Tadashi Yanai has stated: “we don’t chase tendencies. Individuals mistakenly say that Uniqlo is a fast-fashion model. We’re not. We’re about clothes that’s made for everybody”and “we’ll by no means, ever supply disposable clothes.”

Picture by way of Uniqlo; Article supply: Nikkei Asia