Fast Retailing aims at being the world’s largest fashion retailer by revenue in 2020. The owner of Uniqlo grew 7.5 per cent in 2018. Uniqlo’s international sales started in 2017. In 2018, the chain was once again the engine of the group, with a growth of 14.5 per cent. The Japanese company plans to add 300 stores in a year, reaching 3,745 stores in August 2020.
Fast Retailing has roped in Mujin and Exotec Solutions to improve efficiency in warehousing and distribution. Mujin is a Japanese robotics controller maker. Exotec is a French robotics startup. They will help introduce more automation at global warehouses, including in picking and shipping processes. Known for its affordable line of casual clothing, such as lightweight down jackets Uniqlo is currently enjoying strong growth in China. However, the unit has struggled with inefficiencies, occasionally blaming unseasonable weather for poor sales and excess inventory - an issue Fast Retailing hopes to address with shorter lead times and improved logistics. The hope is to avoid making, shipping or selling anything unnecessary. Fast Retailing in partnership with UN Women will champion women’s rights and empowerment in the apparel industry. Fast Retailing and UN Women will together promote safe and secure work environments, and advance empowerment for all women and girls.
