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Whether it’s haute couture or fast fashion, the business of what we wear costs a lot of money. He is at the top of the Billionaire’s Club, having reached number one twice.
But he’s not the only fashion mogul with a record-breaking net worth. If he’s ever shopped at one of Uniqlo’s 2,100 stores around the world, he can thank none other than Tadashi Yanai. His long career as president of the chain’s parent company, Fast Selling, has made him the richest person in Japan with his $33 billion net worth.
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the beginning of a businessman
Mr. Yanai was born in a coal mining town in Japan. Ube City upon February 7, 1949. The apple of success didn’t fall far from the tree. men’s shop Ougi Shoji. His only son, Yanai, was destined for the Yanai family to actually live on the top floor of the building his father built when he was one month old.Enrollment after graduating from high school Waseda university where he took classes in Tokyo faculty Political Department of Science and Economics.
He is now known for his work as a pioneering businessman in Japan, but admits he lacked drive when he was younger. While other students were waging university protests, Yanai was more interested in activities like mahjong and slingshots.
“I was a typical lethargic student. I didn’t attend classes at university and spent my time playing mahjong and pachinko,” Yanai admitted in an interview with Nippon Shaya.
At his father’s recommendation, Yanai reluctantly tells him that he will work at a general store called Jusco. That said, he wasn’t all that adept at spending his time selling kitchen utensils and men’s clothing, so he quit his job after working for less than a year. The 23-year-old would-be billionaire has since returned to his home in Ube and worked in his father’s shop. It was this experience that replenished his enthusiasm for the business.
“I realized that it is important not to have preconceived notions. There are things that I want to try first. That is what I learned from this experience,” says Mr. Yanai.
Two years later, Yanai’s father quit the company and Yanai became president. men’s shop Ougi Shoji. He considered rebranding the company, targeting a younger demographic by offering attractive and approachable items. He took great inspiration from Giordano polo shirts as they were becoming quite the trend in Hong Kong. He set up a meeting with Jimmy Lai, founder of Giordano His International, to select brains about the business.
“I went to see Jimmy Lai, the founder of Giordano, and learned that trade has no borders, manufacturing and sales have no borders,” the tycoon told Japan Forward. if he can do it, so can iAfter that, I started my business in Hong Kong, where I traveled almost every week. ”
Rise of UNIQLO
By the 80’s Yanai turned to casual apparel as opposed to the suits and ties sold in America. Ougi Shoji. Seeking inspiration from mega-his chain stores such as Benetton and Gap, he took the big risk of opening his next business venture, his Unique Clothing Warehouse. The first store opened in Hiroshima in 1984. It took time for the store to gain recognition, but Mr. Yanai managed to attract customers with a clever business opportunity.
“The concept was to provide a store where customers could easily shop and purchase high-quality clothing at an affordable price, much like buying a magazine at a bookstore.
The risk definitely paid off, with hundreds more stores opening over the next four years. Yanai certainly succeeded. In 1988, the fast-growing business was renamed Uniqlo. According to Asia One, Fast Retailing Co Ougi Shoji three years later.
In 1998, the store trajectory was shaped for the better with the opening of Uniqlo’s Harajuku store.
“The big breakthrough for us was when we opened the Harajuku store. I did,” says the tycoon.
Uniqlo’s premier item was a fleece jacket. Jackets are a big trend in Japan, Business Insider reports: In 1998, an estimated 1 in 4 people had one. Today, the company is worth his $13 billion and he operates over 1,000 stores worldwide. According to Quartz, Fast Selling’s capitalization exceeds that of Zara’s parent company, Inditex, by $105.6 billion, making him the world’s most valuable apparel retailer.
Luxurious life in Yanai
Today, Yanai’s net worth is $33 billion. As Japan’s richest man, it’s no surprise that he’s got an impressive real estate portfolio. He now owns his $50 million home in the Tokyo suburbs. Yanai purchased his $73 million property at auction in 2001, covering his 16,586 square feet in the Woodlands area. The house has a practice room and a tea room.
In 2009, he became the owner of Hawaii’s Plantation Golf Course. He bought the course with his $50 million. The following year he purchased yet another course at Kapalua Bay.
In 2014, he purchased an attractive property in an upscale residential area of Shibuya. Many Japanese business moguls and government officials call Shibuya home, including Rakuten CEO Hiroshi Mitani.
Source: Japan Headquarters, Japan Forward,
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