Topping Zara’s parent company Inditex, the value of Fast Retailing, the Japanese parent of casual clothing chain Uniqlo, reached 10.87 trillion yen ($103 billion) recently. As per Asia Nikkei reports, the casual wear specialist is well positioned to capitalize on the changing habits of consumers. The company operated 2,298 Uniqlo stores around the world in November. Sixty percent of these stores were located in Asia with China being the company’s second biggest market after Japan.
The company’s operating margin in Greater China during the last fiscal year ended August stood at 14.4 per cent. The company adopted the "digital consumer retailing" concept in 2016, which involves analyzing data from online and store purchases from IC tags attached to all merchandise. It has partnered with Google and other outside companies to develop a manufacturing infrastructure powered by artificial intelligence.
In terms of revenue, Fast Retailing remains in third place at roughly 2 trillion yen ($18.9 billion) for the previous fiscal year. Inditex leads the way at €28.2 billion ($34.1 billion dollar) for the year ended January 2020, while Sweden's H&M is runner-up with 187 billion kronor ($22.5 billion) for the financial year through last November.