Uniqlo owner Tadashi Yanai to become Japan’s richest man in 2016
Tadashi Yanai, the founder and president of Fast Retailing, which Uniqlo is a subsidiary. Image www.highsnobiety.com
Uniqlo owner, Tadashi Yanai is set to become Japan’s richest man by the end of 2016 with a total net worth estimated at 16.3 billions US dollars or 12.3 billion euros, as reported on FashionUnited.
With 842 stores globally as of October 31, 2016, his assets continue to increase despite $4.8 billion drop in his fortune in the past year and anemic economic growth in Japan.
Yanai, the self-made entrepreneur, has made his father’s tailoring business into a global casual wear giant with fiscal 2015 revenues of 1.68 trillion yen (about $15.5 billion). Before he worked for his father, he spent a year working for another retail company and shares his experience on how he work by cleaning the store, brushing the jackets, sourcing and basically everything else in the store because there was nobody else.
Online website Business of Fashion distilled his 23 management principles into eight key themes, in which, according to Yanai, is the key to success:
- Put Customers First
- Contribute to Society
- Embrace Optimism
- Learn From Failure
- Focus on the Details
- Be Your Own Critic
- Connect to the World
- Disrupt Yourself
Source: Business of Fashion, Japan Times, www.fastretailing.com, Forbes
