- Vivian Hendriksz |
Tadashi Yanai, owner of Japanese fashion conglomerate Fast Retailing (Uniqlo, Comptoir des Cotonniers, GU) is set to become the richest man in Japan this year, with a total net worth estimated at 16.3 billions US dollars (12.3 billion euros).
According to Forbes list of the 50 richest people of Japan, Yanai has managed to increase his fortune in spite of the declining share prices for Fast Retailing and its ongoing international expansion. However, the company will remain profitable, as indicated in its forecast published today with the results of the first six months of its fiscal year, especially in the USA.
Over the past few years, Uniqlo has joined to become one of the largest international fashion chains, going head to head with the likes of Zara and H&M, although the Japanese fashion brand product offering differs. For example, Uniqlo is known for its strong offering of high quality basics and work-wear at a competitive price, whilst H&M and Zara are known for their trendy offering of apparel for an affordable price.