Founded in 2006, the sales of GU, which is only half the price of Uniqlo, increased by 32.7% year-on-year. The parent company Fast Reatiling also regarded the latter as a key training target.
On the day when Fast Retailing Group announced its 2016 fiscal year business data, Liu Jingzheng, Chairman of the Board of Directors of the Group, said that the Group will vigorously develop the fast fashion brand GU in the future, making it the second largest brand in the group after Uniqlo. GU CEO Osamu Yunoki said: "Our sales target is 1 trillion yen, GU will not be just an ordinary company."
As a UNIQLO sub-line brand, how does GU become one of the main brands of Fast Retailing Group and Zara and H&M?
Low-priced fashion
Ten years ago, GU, which had the meaning of "freedom," opened its first store in the Daeung South Line De store in Chiba Prefecture. Since then, the brand has continued to grow, but the categories of goods sold have changed dramatically. At the beginning of its establishment, GU was a small shop brand for families, and its price was generally 30% lower than Uniqlo. After the competition with the Uniqlo weekend discount, the commodity strategy failed.
In 2009, GU's 990 yen jeans collection was very popular, and the brand ushered in a turn. Because the price of this series of products is less than half of Uniqlo, the sales volume exceeds 1 million. After that, the brand began to focus on the current fashion trends, opening up the young women market. In 2014, the eighth year of brand creation, sales exceeded 100 billion yen. The wide-leg cropped trousers launched in the spring of 2015 have been loved by women in their 40s and 50s, and their sales in March reached 3 million.
Like Uniqlo, the planning, production and sales of GU are all the responsibility of the company. Unlike the Uniqlo, which is the main "practical" style, GU keeps up with the trend and sells "single fashion items" in a timely manner. The fabrics used by the two brands are also different. In order to develop strong branded products, GU opened a research and development center in London this spring.
Strengthen men's and children's wear categories and expand the customer base
Teak rule said: "There is also the possibility of luck in the development." Regular discounts on popular products and the expansion of commodity categories have also brought hidden dangers. If you want to further develop, consciously cultivating talents and improving the operational efficiency of stores are essential measures.
From the perspective of commodity categories, GU is currently mainly focused on female customers. In order to expand the customer base, the brand will strengthen men's and children's products and e-commerce in the future. GU will be ahead of Uniqlo and will carry out promotional activities centered on digital members. The company plans to increase its e-commerce ratio from the current 5% to 30%.
Another big plan for the brand is to expand overseas markets. Due to lower prices and more fashionable designs, GU has 350 local stores and 11 overseas stores. Fast Retailing Group plans to have 50 GU overseas stores in 3 years; within 10 years, the number of overseas stores will increase to 1,000.
Tadashi Yanai, chairman and president of the group's board of directors, said that he first launched GU in the successful Asian market of Uniqlo and then entered the European and American markets. Following the opening of the first overseas stores in China and Taiwan in 2013, the brand will enter the markets of Korea, Hong Kong, Singapore and Thailand in the next five years.
Our company was developed in 1988, the clothing export group, such as Casual Outfits and also Sportswear , has over 6 years of OEM solution experience.
We also focus on all sort of Sleepwear, such as Pyjamas established, Slip Dress, Gown and more. At the same time, we are competent in the design and manufacturing of Childrens Clothing. We have actually independently developed Fabrics and Textiles, our Fitness and Yoga suits have been widely applauded.
Our manufacturing facility lies in the industrial event area of Huaiyang County, Henan District, covering an area of 16,000 square meters, with 8 production lines as well as greater than 400 staff members. Furthermore, our factory additionally has 5 manufacturing facilities with annual production capability of 5,000,000 PCS and annual export quantity of $100,000,000.
For us, customer as well as quality are one of the most essential. Therefore, we obtained a great perception from customers in United States, Australia, Canada as well as other areas. As well as developed a lasting cooperative relationship with great deals of global sports brands.
We never ever stop moving forward, we will certainly do our finest for far better future and also make friend with all of you. Looking forward your inquiry!
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Ningbo Ningshing Trading Group Inc. , https://www.apparel-products.com