The world's largest apparel company by market capitalization

Home Page > Fashion > Content 2021-07-18

Topic:No. 1 company in the world by market capitalization

Recently, Uniqlo ushered in her highlight moment. From a little-known (relative to international big-name) clothing brand, it has crushed the former clothing giant-ZARA (parent company Inditex), which is famous for fast fashion. On February 16 this year, Uniqlo won the title of "the world's first clothing company by market capitalization" from ZARA at 10.8725 trillion yen (calculated at the closing price).

As of November 2020, Uniqlo has 2,298 stores worldwide, and the Asian region (excluding Japan) accounts for 60%. Mainland China has 791 stores, second only to Japan's 815 stores. And ZARA's stores in Asia account for only about 20%.

Not long ago, Zara's parent company Inditex also confirmed that it would close all physical stores of its Bershka, Pull&Bear and Stradivarius brands in China.

▲From DT Finance

In the summer of 2017, the market value of Fast Retailing Group and Inditex was still about 4 times different, and the market structure has changed drastically in just four years.

Compared to ZARA, which was established in 1975, Uniqlo (started in 1984), as a "rising star", is clearly more comfortable in the current market environment. In the eyes of contemporary consumers, it seems both unexpected and reasonable.

It’s like, a class comes with an unremarkable transfer student, looks very ordinary, very inconspicuous at first, but after a long time, she has become the most popular in the class with her unique characteristics. Girls.

According to the customers who turn to fans on Uniqlo Road, it is: "Uniqlo is very cost-effective." The super high here means that consumers are more satisfied with Uniqlo than other clothing brands in terms of the core clothing price and quality requirements.

▲Uniqlo's simple store decoration

So, how did Uniqlo achieve its "super cost-effective" reputation? This has to be said from the philosophy of Uniqlo founder Yanai Masao when he founded Uniqlo. Masa Yanai believes that the development and provision of cheap and high-quality clothing is the most important factor in occupying the market. From Uniqlo's first store in Hiroshima, Yanai has been practicing the concept of cost-effective clothing.

Of course, if you just think that the founder's worship of quality and low prices has created the current market position of Uniqlo, it would be biased. After all, every entrepreneur wants to use this trick to win the market, but it seems to be difficult to practice. So, how did Uniqlo really implement the "good quality and low price"? Here are a few points worth referring to.

In the early days of stealing GAP, basic casual clothing was used to lay the foundation for cost performance.

Starting in the late 1960s, in the 1980s and 1990s, the most popular and cost-effective casual wear brand-GAP, whose design director Patrick Robinson once said: "For GAP In terms of design, the most important point is to fit and fitBody, fit again. "This sentence sounds familiar-it turns out that Uniqlo's high-profile "suitable life" slogan is completely consistent with the concept of GAP.

With the rapid economic development and the subsequent burst of the economic bubble, pragmatism began to prevail, and the concept of fashion that emphasized practicality took root. It is no longer the mainstream to catch up with fashion, but it is replaced by the notion of personalization, comfort, and fashionable clothing to please oneself.

More importantly, in the past ten years, the penetration of the Internet into personal life and the popularization of mobile phones have also made people more and more inclined to "living at home." Di spends his mind on how to "show" on the street, over time, he also recognizes the beauty of the simple and simple image more. Comfortable and high-quality casual style, has long dominated the trend.

▲The number of mobile Internet users in my country has exceeded 99%

Always be able to make "high cost performance" slightly better than peers

Since the reform and opening up, my country’s urbanization rate has increased from 18% to 56.1%. As early as 2018, China’s urban permanent population reached 831 million, an increase of 17.9 million from the previous year, and the urbanization rate reached 59.58%. As my country's economic level and urbanization level increase substantially, people's demand for fast-paced and efficient clothing and food, housing, and transportation are coming in parallel.

The ever-growing urban population and the efficient pace of life provide a huge market space for clothing brands that win with cost-effectiveness.

This is also the fundamental reason why fast fashion brands, such as H&M, ZARA and other brands, have been so prosperous for a while. However, compared to fast fashion brands, Uniqlo is more cost-effective.

In an environment where everyone is pursuing life efficiency, people no longer need too much clothes. It takes unnecessary time and expenditure to pick and buy clothes. The same is true for sorting and throwing clothes. Uniqlo clothes are durable. , Versatile, classic styles, and relatively low prices, at this point, it beats fast fashion brands such as ZARA.

It is rumored that Uniqlo jeans and Levis pants can be produced on the same production line, but the price is low. In fact, Uniqlo has more than 70 regular foundries in the world, all of which are the top in this industry (in comparison, ZARA's more than 1,000 foundries around the world are struggling to control quality).

Uniqlo, famous for its high cost performance, commented on Zhihu by some netizens: "Uniqlo has simple styles, most of them are basic models, and they will not be outdated for a long time." "I have some small surprises after shopping a few times this year, and the clothes are designed. Sense, good-looking, durable and easy to take care of".

This also represents the aspirations of a large part of consumers’ clothing needs at this stage.

▲Uniqlo from Zhihu netizens "All the old and young"

To put it simply, compared to other fast fashion brands, consumers find that fast fashion brands have brought themselves into the vortex of constantly updating their wardrobes. The Uniqlo next door, with the versatile items and excellent texture of the basic models, greatly saves the time to buy clothes. These time-saving features are very necessary for consumers who are pursuing high-efficiency and fast-paced. .

Uniqlo's marketing plan is unique, focusing on "cost-effectiveness" to create store marketing

Uniqlo’s brand marketing is very worth learning, especially the emphasis on the marketing effect of the store: ubiquitous copywriting posters-scene-style dressing posters with professional terminology copywriting, in the eyes of the customers are like "silent Shopping guide". The copywriting of these posters also set the tone of meticulous, high-quality, and high-grade brand, intentionally or unintentionally.

▲Excellent"Silent shopping guide" can be seen everywhere in Yikumen

From the copywriting, we can also see that Uniqlo uses technology, performance, and fabric selection to compact the sense of quality. It uses the marketing copywriting that can be seen everywhere to present the brand's sense of grade, and then uses the low-cost drop feeling. Create surprises that customers want to "try it out", which triggers impulsive consumption and conceptual propaganda terms such as "UT" and "heattech" are circulated, accumulating word-of-mouth effects.

▲ Uniqlo's poster mainly uses scene applications to show the taste of wearing (from the official website)

From Uniqlo's stores, we have also seen the peculiar sales effect that offline stores are combining with the online store’s graphic presentations. It is no wonder that a clothing brand that looks downright at first glance, with its strong planning ability behind it, will gradually become the object of consumers' pursuit.

Undoubtedly, Uniqlo is clearly aware of the current consumer demand for clothing, and also knows how to make the physical store make the best marketing effect, and will not miss any opportunity to show itself.

▲In the trousers area, service prompts for modifying trousers can be seen everywhere, making people feel the warmth of the brand

In addition, the publicity of cooperation with internationally renowned designers with similar tastes is released to promote the sale of products, which is also a point that cannot be ignored in its successful marketing.

For example, starting in 2009, Uniqlo and legendary fashion designer Jil Sander (signed a designer consulting agreement) launched the "+J" concept clothing, which was once sold out. In 2020, Uniqlo once again launched the "+J" series of products, which is a big hit here. Relying on the cooperation of well-known designers to create explosive models and create brand influence, UNIQLO has been familiar with it from the sweetness to now, and it has to be praised for its marketing ability.

At present, among the many other clothing brands, planning and marketing can be made with such ease. It is no exaggeration to say that there is no second in the clothing market. Of course, this is also determined by UNIQLO's decades of accumulation and internal background, and it cannot be easily learned by "painting a gourd".

Uniqlo’s great spring is still on the way

Uniqlo founder Masaru Yanai told Japanese media in early 2021: “As consumers become more economical, the importance of brand and product quality has become more and more prominent. Consumers will choose high-quality and reliable brands. At the same time, With the increase in demand for casual wear and remote work, the days of wearing formal wear are gone, and the era of daily wear is officially here. We want to make the best daily wear, and people will choose to work and stay at home, suitable for work and home, and can be more durable. A matching outfit. Clothes that are lost after one year are no longer needed."

From this passage, we can see that Mr. Yanai Masaah has a thorough grasp of consumers under the pulse of the times. At the same time, it also strongly proves the advantages of Uniqlo and Yanai's full confidence in its future potential.

▲ Uniqlo's corporate group buying business is also in full swing (from the official website)

If UNIQLO has emerged now, then its great spring is already on its way.

Source: Linkshop News

Note: All the pictures in the article are reprinted pictures on the Internet, and will be deleted for infringement!

Return to to see more

Label group:[Marketing] [Fashion] [zara] [Uniqlo] [clothing] [Yanai Masa

Extended reading

Same topic