UNIQLO Company, Global Marketing Analysis Essay

UNIQLO Company, Global Marketing Analysis - Essay Example 2. The Uppsala Model 8 Section Three 11 Macro environmental analysis 11 Market specific analysis 14 Section Four 16 Market Entry Modes 16 List of references 19 Section One Introduction Uniqlo Company limited is a Japanese clothing company. The name Uniqlo was as a result of the combination of ‘Unique’ and ‘clothing’ (Frankel, 2011). This company specializes in the manufacturing and retailing of casual wear (Uniqlo, 2012). It was first established in 1984 by Tadashi Yanai and opened its first shop in Hiroshima in that same year. The company was originally a division of the Fast retailing Company limited, a retail holding company. Fast retailing company owns many other brands that include Aspesi, foot park, National Standard and Princess Tam-Tam among others (Fast Retailing, 2010). Uniqlo has continued to be in existence in the fashion industry for a long period of time making impact and changing the perceptions people hold of the fashion industry. In 2005 its management restructured it and separated it from Fast Trading Company to form a new wholly owned subsidiary called Uniqlo Company Limited. It was during the same period of time that it became listed on the Tokyo Stock exchange (Fast Retailing, 2010). Uniqlo is currently headed by Yadashi Yanai who was its founder and president but has other managers in the various outlets of the company. History Uniqlo first began its operations in Hiroshima where it opened its first shop in 1984. ... The parent company continued its operations under its original name Ogori Shoji until 1991 when it rebranded to Fast retailing company. Unique began a spirited effort to expand its market and by the end of 1994 the company had over 100 stores in Japan only (Fast Retailing, 2010). The company was fast growing and therefore had to think of strategies that would enable it to continue serving its markets. This necessitated it to come up with the SPA strategies adopted from The Gap- an American retailing giant, which aimed at producing and selling their clothing exclusively (Fast Retailing , 2011). The company then set out for overseas expansion after sales turnover and gross profit from their operations in Japan peaked in 2001, boasting of over 500 stores in Japan only. In 2002, the company established Fast Retailing Apparel Company in china and began operating the first Uniqlo outlet in Shanghai China. Uniqlo then made a huge move in 2002 from the Asian market to venture into the Europe an market and established four outlets in London (Fast Retailing, 2010). The England market proved difficult to work in with as sales were below the company’s expectations. This caused a sharp drop in profits in 2003 and the company began working jointly with other Japanese companies and celebrities in order to boost its dwindling sales. Since 2005, the company has engaged itself in an aggressive expansion plan and has opened stores all over the world including, The United States with stores in New York City, In China with stores in Hong Kong and formed a joint venture with Lotte in order to enter the South Korean Market. It has continued its operations in Europe opening more stores since the profits and sales began to