Uniqlo In Hong Kong Business Essay

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Many businesses exist and flourish because they are successful in satisfying a need in the market. These needs are determined by the consumers who are considered an important component of any business endeavour. The primary reason for a business existence is to continue identifying consumer needs and then come up with tangible responses to address these needs.

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This requirement makes business companies spend a considerable amount of effort and intellect in analysing the behaviour of the consumers in order to effectively formulate appropriate marketing strategies that would assist the firm in effective production and delivery. Smart, D. T., & Martin, C. L. (1992) argued that the study of consumers makes companies and organisations recognise and internalise consumer issues that would help strengthen their marketing strategies. In this paper several issues are discussed pertaining to fashion and clothing products and services offered by UNIQLO in Hong Kong. UNIQLO Co., Ltd. was originated in Japan. The company’s business line is about clothing and fashion. But basically, the company is one of the leading clothing and fashion business in Japan that design, manufacture and retail casual wears. Initially, UNIQLO Co., Ltd. was only a division of Fast Retailing Co., Ltd. but by November 1, 2005, UNIQLO Co., Ltd. come into the picture through corporate restructuring and currently existing as a 100% consolidated subsidiary of Fast Retailing. UNIQLO was now listed at the Tokyo Stock Exchange. In Japan, UNIQLO is the leading clothing retail chain in terms of both sales and profits. And as of 2010, the company are also operating in Hong Kong, China, United Kingdom, South Korea, France, Singapore and United States. UNIQLO formed the idea of blending of ‘unique’ and ‘clothing’ as an symbol of originality and uniqueness of the apparel industry in Japan. UNIQLO offers fashionable and high quality clothing at reasonable prices, and was seized as an opportunity to establish a brand position domestically and internationally, combining all the facets of the business from product design to final sales and the operation of the 790 stores around the globe. Primarily offing for a highly brand conscious consumer group, UNIQLO envisions itself as a leading global casual wear company targeting high sales and profitability growth. For UNIQLO, such aim could materialise based on the established strategies such as low cost management, cheapest manufacture and marketing schedules and prioritising customer requirements. Nowadays, UNIQLO is described as the apparel giant Gap, Inc.’s counterpart based on the 4, 000% share price increase, making UNIQLO as Japan’s third largest clothing retailer. However, it is not always victory for UNIQLO; the subsidiary also has its own share of downturns especially on its international expansion. For instance, expansion programmes in the United Kingdom (UK) saw a tumultuous stumble in profits, forcing Fast Retailing to shut down 16 of the 21 UNIQLO stores opened,

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