Uniqlo Stripe in Japan, to Vietnamese youth fashion
Acquisition and Growth Strategy of UNIQLO's Vietnamese Brand Elise
Japan Stripe Acquired NEM, UNIQLO Also Purchased 35% Shares Of Vietnamese Women's Clothing Brand Elise. Elise made tens of millions of dollars in profits from the stock sale. It is expected to be much higher than Elise's total capital.
Uniqlo plans to open its first store in Ho Chi Minh City in fall 2019. Fast Retailing, the UNIQLO brand, has announced that it will be able to expand its business with the economic development of Southeast Asia, and that Vietnam is a region where growth can be expected in the future.
UNIQLO's strategy to expand its business in Southeast Asia and Oceania is to open 400 stores in the region by 2022, and to triple existing revenue to $2.71 billion by August 2022. We are planning to expand.
Today, the company's store network spans 20 markets on four continents with a total of 2,000 stores.
Acquisition and growth strategy for NEM, a popular striped brand for young people
Japan's Stripe acquired NEM and took over NEM's women's fashion brand.
In October 2017, Stripe established a local subsidiary, Stripe Vietnam JCS, based in Hanoi, to acquire NEM Group's apparel business. Stripe Vietnam's registered capital is VND17.5 billion ($7.6 million).
Founded in 2002, NEM Group operates 44 shops, about half of which are located in Hanoi and Ho Chi Minh City. It focuses on fashion for OLs aged 20 to 40, with prices ranging from $45 to $70. Stripe plans to capture the middle class by launching new brands this year that are about 10% cheaper than existing brands.
Stripe is expected to become the number one women's apparel company in Vietnam by the end of this year. Sales are expected to increase 30% year-on-year to 5.2 billion yen ($44.4 million). In addition, we plan to dispatch human resources from Japan to further improve the sewing skills of Vietnamese workers. In the long term, we aim for domestic sales of 8 billion yen and an operating margin of 25%.
MUJI's MUJI brand, which is popular among Japanese young people, is also coming to Vietnam!
In addition to Uniqlo and Stripe's entry into youth fashion, the MUJI brand of Ryohin Keikaku, which is very popular among young people, is also making inroads into Vietnam. In addition to handling furniture, clothing, miscellaneous goods, and food, MUJI also handles mail order/online stores and hotels.
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