In this paper, we will present a case study to identify how this company plans their racketing strategies for their target customers. We also study the organizational scenarios of the planning strategy and make our views about Unique for their future growth. Company History UNIQUE is core business of 'Fast Retailing' in Japan. After opening our first UNIQUE store, in Japan in 1984, we construct a chain of stores in Hiroshima. But the store closes in 1991. UNIQUE first curb location, the Yankton Store in Humanity Prefecture, opens to great bonanza and sets a new standard for the brand's stores.
In 1998, we began opening stores in urban locations and ran a fleece movement that united a UNIQUE boom across Japan. Picture 1 :The first UNIQUE store:Annual formerly called UNIQUE CLOTHING WAREHOUSE In April 1999, UNIQUE Shanghai office opens to further enhance production management. In March 2010, UNIQUE establishes a wholly owned subsidiary in Taiwan to develop China and Taiwan marketing. But not open the store in Shanghai and Taiwan. UNIQUE store in open areas In November 1998, UNIQUE Harmful Store opens in Tokyo, the first city UNIQUE store.
In October 2000, open online shop for business. In December 2004, enters a Joint venture with South Koreans 'Lotto' Shopping Co. Ltd. To expand the UNIQUE business in the South Korean market Global markets are now our key driver of evolution. In 2002 to 2013, the UNIQUE constantly in the opening new branches Asia respectively is China Shanghai, South Korea, Hong Kong, Singapore Tympanis 1 Mall, Russia Moscow, Taiwan Taipei, Malaysia Koala Lump, Thailand Bangkok, Philippines Manila, Indonesia store opens in Jakarta, Dacha Bangladesh.
In 2001 to 2014, the UNIQUE out of the Asia towards International to staring opened stores of United Kingdom, United States New Jersey, France Paris, United States San Francisco, Australia store opens in Melbourne Germany Berlin. But the U. S. New Jersey store closed in 2006. Furthermore, In 2006 to 2014, UNIQUE in around the world opened global flagship store the New York Soho Store is the brand's first global flagship store.
Also, global flagship store respectively is London 311 Oxford Street Store, France Paris Opera Store, China, Shanghai West Nanjing Road, Japan Osaka Shanghais, Taiwan Taipei Imaging Department, United States New York Fifth Avenue, Korea Encoding Central, Tokyo Gina Store, Hong Kong Lee Theatre, Germany Berlin. Company Background Picture 2 : Fast Retailing logo Picture 3: Unique Logo Fast Retailing owns UNIQUE, GU, Theory, Competitor des Stoniness, Princesses tam. Tam and J Brand. After opening our first UNIQUE store, in Japan in 1984. The GU Established at September, 2008.
GU line of business design, manufacture and retail of GU brand clothing and other goods. In the world as of May 31, 2014 have 277 stores. Fast Retailing Establishment May 1, 1963. The Fast Retailing Chairman, President and CEO is Dadaist Yang. He is Japanese and from creation to the present. In terms of globalization, the 2013 annual UNIQUE in sales among the top 10 stores, even have located overseas. Looking at the number of shops, the number of overseas branches has also been extended to one-third of the total, enough to witness the pace of globalization UNIQUE.
Fast Retailing have recently adopted the motto, "Global is local, local is global. " UNIQUE intend to offer customers everywhere the world's best stores, best service and best products, to boost UNIQUE worldwide fan base, and to become the number one brand in every country where UNIQUE operates. UNIQUE and Grahame Bank in Bangladesh Jointly set up cooperative social enterprise n the local from clothing design, production and retail. This collaboration makes Bangladesh have more local Jobs, help improve local people's living standards, while the most important is to fulfill corporate social responsibility.
UNIQUE in Hong Kong established March 31, 2005. In HAS as of July 31, 2014 have 22 stores. Following the opening of the first UNIQUE store in September 2005, the number of stores in Hong Kong has with steady steps reinforced to a total of 18 at the end of August 2013. For the Asian markets, Hong Kong enjoys especially strong consumer purchasing power. This along with a growing enthusiasm of the UNIQUE brand in consumers has generated a highly efficient and profitable business in Hong Kong recording extremely strong sales on a per store foundation.
In April 2013, UNIQUE Lee Theatre Store opens in Hong Kong as the brand's tenth global flagship store some special products only global flagship store to buy. Picture 4: Industry Ranking UNIQUE competitor is GAP. In the market UNIQUE second only to GAP, H and EZRA. The Gap, Inc owns Gap, Banana Republic, Old Navy, Prelims, Athlete, Intermix. As at April 30, 2011, Gap between Enterprise Co. Ltd. Has 3,245 company-owned and franchise stores. Located in Canada, China, Croatia, France, Italy, Ireland, Japan, the United Kingdom and the United States (excluding Puerco Rich) and other places of company-owned stores are among.
The remaining countries are all Joined the management of the branch. The GAP is an American costume Jewelry retailer operating was founded in 1969 with a single store in San Francisco. The GAP product main element is GAP logo hood. The GAP style is casual, classic and modem, and American style. GAP Compared to the more stylish and maturity style of UNIQUE. GAP target market is an office worker has consumption capacity. UNIQUE implementation 'Life wear' than UNIQUE style is life style. For customer's pursuit of simple and monotonous giving a happy life. UNIQUE target market is young people.
GAP quarterly product design most are different, Just like the style only the same. But the UNIQUE quarterly products design most the same of T-shirt, hood, and Jacket etc. GAP in corporate social responsibility not as a recovery UNIQUE clothes action. After recovering UNIQUE clothing will donate clothes to the place or the occurrence of natural disasters, poor countries. GAP is not all products are their own garment factories manufacturing is outsourced to some other garment factories. UNIQUE in Bangladesh and China have their own production plants from design to production and processing manufacturing plants are all their own.
UNIQUE This plant will be designed to avoid illegal to resell or finished products sold parity. Also, UNIQUE baby clothes are sterilized packaging, if unpacked must be returned to the factory and then sterilized packaging. Picture 5: Fast Retailing Way Fast Retailing UNIQUE business philosophy is Life wear, Customer service and Product policy. Life wear UNIQUE entered into a Life wear ideological. There were twelve series of products HATCHED, ULTRA Light Down, Fleece, Silk, cashmere, cotton Flannel, ULTRA stretch, Leggings, Warm Easy, Denim, Shirts and Topics.
HATCHED HATCHED and ULTRA Light Down UNIQUE sales at most. HATCHED the result of collaboration between UNIQUE and Tray Industries, Inc. HATCHED is a unique highly functional line of narrower that offers amazing comfort. The hallmark qualities of HATCHED are its thinness, lightness and softness, and the comfort achieved by he elasticity of the fabric is so outstanding that it has continued to both greatly impress and satisfy our customers. HATCHED in response to customers demands for functional narrower to complement UNIQUE previous lineup of mostly cotton narrower.
For man HATCHED product line was launched in the fall/winter 2004 as warm narrower, combining the merits of heat-retention and anti-perspiration functions. The following year began selling similar products for women. By combining our original HATCHED fibers with a special milk protein, soft yet lasting, and can be created in a wide range of vibrant colors. The products proved so popular in the 2007 fall/winter season that production was outpaced by demand. UNIQUE relentlessly try hard to create world-class products of the highest caliber and will not compromise on quality.
One example of this commitment to quality is the strategic partnership formed with Tray in June 2006. Tray had the technology and manufacturing capability to meet UNIQUE high quality standards, and together pushed the border of technology to create the fiber, the basis for HATCHED. This synthetic fiber is soft yet lasting, and can be created in a wide range of vibrant colors. HATCHED superior function lies in this highly advanced original fiber. To meet the high demand for HATCHED, UNIQUE have increased the production capability of plant with an exclusive HATCHED production line.
Customer service Fast Retailing emphasis on Customer service is more than internal operations. For example UNIQUE in Hong Kong office decor shabby rented only a few units and other similar companies in different industries most other companies have several layers or rent the building as office. Product policy As a Specialty-store retailer of Private-label Apparel controlling the entire clothes- asking process from design through create and sell, UNIQUE offers high-quality casual wear at reasonable prices, and products that other companies cannot. S. W. O. T.
Manta "This analysis leads to business awareness and is the cornerstone of any successful strategic plan," said Bonnie Taylor, vice president of strategic marketing at CSS Innovations. 2 S. W. O. T matrix is a tool for the firm to perform business objective through recognize their strength, weakness, opportunities and threat it confront in their market place. This tool aims to assist the firm expand a potent business plan. Here are the contents of S. W. O. T : Strength: It is an internal factor means the features and virtues of the firm which can compete with their competitor and achieve business goals.
It can be business structure, products, technology or other quantifiable or unquantifiable resources of the firm. Weakness: An internal factor signify a hindrance not beneficial for the company such as unsuitable management planning, complicated internal structure, unacceptable product or other elements that can make their clients dissatisfaction. It ought to take action to avoid it happened again and optimize the planning. Opportunities: Some external factors that contain possibility to help the firm increase the profitability.
It derive from government or the similar industry. If the company can look for detail about what is the change in the marketplace that can fulfill customer needs and wants, they could grab more customers from other competitors. Threat: External condition which bring out possibility of bad result can affect the organization structure and profit. There are something new or different product in the market that can make the original product will be obsoletes. As the mention above, We have analyzed the business perform of Unique: Strength: Product 1 .
Create their own business model- SPA model Picture 6: SPA Business Model SPA stands for Specialty store retailer of Private label Apparel. Fast Retailing put the first priority on Unique for using this business strategy. The function of the strategy is combining all of the entire clothes-making process from design and production to final sale. It contains procurement of materials, product planning, development and manufacture through distribution and retail to inventory management. SPA able to minimize their personal expenses and the store rent for enhance the efficiency of store operation. . High quality garments with low price Picture 7: Production Partner Approach and Objective "UNIQUE is continuously developing products of exceptional quality, in order to "create clothing with new and unique value and to satisfy customers worldwide. "3 High product quality with low price is the main advantage for Unique. They have followed a superior quality and safety controls deliberately to make sure the customer can feel the comfortable from their garment and fulfill their satisfaction. Picture 8 : Unique inner wear- Hatched
Picture 9 : Unique inner wear- The 7 Function of Heath "HATCHED is the result of collaboration between UNIQUE and Tray Industries, Inc. HATCHED is a unique highly functional line of inner wear that offers amazing comfort, which has won over a multitude of customers. " 4 Uniquely garment development are emphasis on customer opinions. From the opinions on HATCHED products, customer feedback that they were asking for softer fabric, a function to keep skin both warm and prevent dryness and an expanded range of colors.
As the mentioned, the customer makes possible for UNIQUE to produce the high-quality reduces. They put more resources on business planning, product design and product procurement. Picture 10 : Uniquely Quality and Safety Control System In order to ensure the product can be maintained at the low price with high quality standard, The UNIQUE Material Development Team direct negotiate with and bulk purchases from material manufacturers globally. Moreover, Picture X mention that the Tokyo Headquarters, Humanity Head Office, which is a team of technical specialists and mainly focus on garment material.
The team strive to offer the technical guidance for production office on helping the recess management and the training of personnel. Here is a statement from the director of the team - Kuaka Laid Dyer Attack : "By offering instruction on dyeing technology at Unison's partner factories, I encourage workers to embrace a new production management philosophy and improve their factories. Our cultures may be different, but our aim is the same--to make truly good products.
I am proud to be passing on expert Japanese techniques to the next generation of Chinese technicians. "5 Customer Service 1. Positive reputation Picture 11 & 12 : What Our Customer Saying Picture 13 : Customer Center Feedback -Japan . Emphasis Customer Service The basic principle of Unique customer service is providing truly great clothing to everyone. They uphold " Three Promises" to their customers: Keep the sales floor clean; keep advertise items in stock and accept return and exchanges within one month of purchase.
In addition, They established FRY'S Customer Center for customer for customer inquire through phone, fax or email because they reckon the opinions from customer is useful for them manage an effective business plan. All in all, the strength of Uniquely product comprise high quality to create customer demand and Ochs clothes-making process from design and production Other than that, we can see that Unique is attentive to their customer. Weakness 1.
Unstable management value In order to truly satisfy customer needs and wants, Unique do give a weight to plan their service providing, especially on product design ideas and standard of service. Most of the business philosophy is from the perspective of their clients. The firm not easy to control their management path because of the client own a High bargaining power. Furthermore, the market environment is easy to change that means the errors who plan their business not only keep an eyes on their fix business plan objective but also pay attention on what is news on their market plan to keep pace with the trend.
According to " The Business of Fashion", it mentioned: "As always, a major strength can also be a major weakness and one reason why Uniquely same store sales record has sometimes been uneven -? a problem exacerbated by its policy of installing new season merchandise and removing the old, even though the weather doesn't necessarily play to the same schedule. Thus, in July last year, like for like sales rose 5. Percent; in August they Jumped 28. 9 percent; in September they rose 4. Percent and then collapsed during an unseasonably warm and wet October, falling 13. 8 percent, even after a 2. 2 percent drop in the same month the year before. "6 2. Market Competition Picture 14: Major Global Specialty Share Retailer of Private Label Apparel Picture 15 : Worldwide Apparel Specialty Stores: Ranked by Market Capitalization As the mention above, the position of Fast Retailing (Unique) is fourth largest casual wear industry in the world. The top three company's sales are Inedited EZRA (Spain), H Sweden), followed by GAP (USA).
Even though Unique had build up a well known brand and nice reputation to the mass, they neglect an attainment. According to " The Business of Fashion", it mentioned: "Fast Retailing didn't break trillion earlier because the company failed to make any major acquisitions in the past five years, and its string of earlier takeovers -? including Cabin, Link Theory and the footwear businesses Vivisection and Nozzle, which have been dissolved, as well as overseas brands Competitor des Stationeries, Theory and Princesses Tam -? have not performed as well as it had opted.