Introduction
UNIQLO was founded 72 years ago in March 1949 by Ube, Yamaguchi in Japan. Even its headquarters are located in Yamaguchi. It is a designer, manufacturer, and even retailer of casual wear. It is owned by Fast Retailing Co., Ltd as one of its subsidiaries. Fast Retailing Co., Ltd, a Japanese retail holding company, it is the fourth largest retail apparel group all over the world at present. 80% of Fast Retailing’s sales are contributed by UNIQLO. It was reported in November 2019 by the company that UNIQLO has more than 2200 stores operating in over 20 countries all over the world. Its revenue is $21 billion.
Answer To Uniqlo Employee Discount
UNIQLO has over 30,000 employees working for them all over the world. Employees enjoy an array of benefits provided to them. In a survey, employees rated the company’s benefits 7 out of 10 in regards to the perks and benefits provided to them. The discount available for employees to redeem is 30%. However, this discount can only be availed by them at the particular store that they work at.
The other benefits provided are tuition reimbursement, vacation policy, health insurance, 401K plan, maternity leave to name some.
They also offer jobs to refugees and their families at their stores. This is to promote employment amongst them. They have a very competitive pay of $15.22 per hour for Retail Sales Associate, $11.14 per hour for Cashiers, and $44.68 per hour Store Manager at an average.
Uniqlo Competitors
All year round almost all fashion retailers keep searching for new and unique fashion trends. Most of them have also been following very similar business models.
UNIQLO, H&M, and Zara, however, are three brands that have completely different models that are proving to be successful for each of them.
H&M has the greatest number of physical stores as it is the oldest among the three. H&M has 4,372 stores worldwide and 559 in the US. It was found in 1947 in Sweden and quickly made a name for itself through its affordable prices. They feature products that are marketed as collaborations with famous designers such as Alexander Wang and Versace. This is their strategy for boosting sales as these products offer people more lines for purchasing that are completely different in style and look than the company’s original designs. It also boosts their reputation in the fashion industry.
Zara is very prominent in Spain but has also expanded globally. It is the youngest brand in comparison with UNIQLO, and H&M, being found only in 1975. Though it has only 99 stores in the United States, it has 2,220 stores in more than 90 countries. The production rate of Zara is commendable, their products can be designed and in stores for selling within a month. This allows them to have a greater number of products available for their customers. They produce more than 10,000 pieces per year.
Uniqlo in the US
The first UNIQLO store in the United States was opened in 2005 September. The store was located in Edison, New Jersey at the Menlo Park Mall. The company’s first flagship store globally was also opened in the States. It was located in the fashion district, SoHo of Manhattan in New York City. To boost and rebirth fashion concepts that catered to the markets in the United States, new fashion designers joined the store’s team.
The 2020 plan stated by Fast Retailing highlighted its goals of setting up 200 UNIQLO stores in the United States, leading to stores in all major US cities. In their plan, they also state their objective of generating $100 billion through their annual sales from those 200 stores.
This plan was set up when the company had only a handful of stores in the States. It was only after they disclosed the plan that they began their expansion in the country.
Their first store in the Midwest was opened in October 2015 in Chicago on Michigan Avenue.
October 2019, UNIQLO leased more than 950,000 square feet in Phillipsburg, New Jersey for its first-ever North American distribution center.
The expansion plan is still underway and progressing smoothly because as of March 2021, UNIQLO operated 47 stores in the United States of America.
Conclusion
UNIQLO knows how to make its products stand out and keep them unique. Unfortunately, their expansion in the States did not be as quick as it wanted to be. But slowly and steadily, UNIQLO is making its way into the market of the United States of America, just like it has in the rest of the world. It is adapting and adjusting their style and designs to the needs and wants of the citizens of the US which will definitely help them in the long run.
FAQs
- In which country is UNIQLO most popular?
Ans: UNIQLO is the most famous in Japan. The company has over 800 stores in the country.
- How much does the company pay Roger Federer?
Ans: Roger Federer’s ten-year deal with UNIQLO is rumored to be worth $300 million.
