The Richest Billion Of Japan: ‘Uniqlo Is Not A Fast Fashion’

Coming to Vietnam on the occasion of opening the first Uniqlo store in Dong Khoi, Ho Chi Minh City, President Tadashi Yanai, the Japan’s richest billionaire with a fortune of $ 29.5 billion, spent 30 minutes having a conversation with Zing.vn.The founder of Uniqlo shared a lot with Zing.vn with business philosophy, succession plan and his evaluation about Vietnam.

During the talk, Mr. Yanai was always serious and only smiled a few times. Sitting nearby, Uniqlo Vietnam’s general director listened carefully, recording every word of the chairman.

Apparel is only redundant in rich countries, not in countries like Vietnam

– Your recent message in November said that the company would “make, distribute and sell only the necessary products”. Does this conflict with the common business principle of selling products that customers want?

– I do not want you to misunderstand and will explain more clearly. Nowadays, we think that clothes and costumes are produced very much, fully, maybe they are getting reduntdant in the world. But the story is not so.

It is only adequate, even redundant in developed and wealthy countries. And in developing countries including Vietnam, there are still people who cannot afford to buy clothes and costumes for themselves.

Production of clothes and costumes must not create a burden on the environment. I told the staffs that we do not make, sell or transport clothing that adversely affects the environment.

To do that well, maybe later people will talk about the story of using artificial intelligence (AI). But before applying AI, it is necessary to promote all human intelligence. I often tell my employees that before you mention the use of artificial intelligence, promote your intelligence first.

Before studying English, learn Japanese very well. Why do I say so? Because I am Japanese, I cannot think or think in any other languages. Japanese is my native language. I must learn it well before doing something else.

Portrait of Uniqlo brand founder Tadashi Yanai.

– In the same message, you said that consumers are becoming more aware of the problem of buying clothes that are only worn a few times. In the eyes of Vietnamese consumers, Uniqlo is still associated with the image of a fast fashion brand although the company is asserting the opposite?

– We certainly are not fast fashion. If you try it on, you will know our clothes and costumes are very durable. In terms of quality, this factor is standard.

My goal is that Uniqlo will become a world standard, a durable product over the years. Try it and see, you will know that we are not a fast fashion brand.

– Uniqlo’s philosophy is simplicity, quality and everyday convenience. Why is it that in the fashion world when all the frantic fast trends come and go, you are always loyal to that philosophy?

– The most essential of all is LifeWear. I also talk about art and science. Those are the universal values ​​we want to bring into our LifeWear products, bringing that value to consumers in Vietnam, where we can produce, sell, guarantee a closed process.

And one more thing. Being simple is not the best but being simple helps us to be the best. Simplicity is not monotonous. Simplicity is difficult. Make it simple, but better.

– Japanese businesses are associated with discipline, principles, efficiency in the work, the products of Japanese companies are durable and good. But because of this, Japanese businesses are sometimes thought to be a bit rigid and slow to adapt to new trends. Is this true for Uniqlo?

– We are a Japanese company, so we will definitely carry the Japanese’s traditional culture. I think the story here is how to develop strengths and overcome weaknesses.

Upholding our strengths, our company can win in the world market. I often tell my employees not to let their strengths become weaknesses and they should learn to promote those strengths.

Mr. Tadashi Yanai holds all the most important positions at Uniqlo and the parent company Fast Retailing.

“It is very difficult for a person to play many roles like me.”

– Two years ago, you shared in the Nikkei newspaper that he may retire at the age of 70 in 2019. The reason for delaying your retirement is whether you wants to realize the company’s vision or you have not found a suitable heir?

As for the inheritance, I think I have enough inheritors. But having them all will be a very difficult story because of how to have a person who plays many roles like me.

I am both the president, the director, the CEO and the founder, and in other words I am the owner of the company. How can one have all of these factors? So, we need to have a team.

To have a team, there must be a leader of that team. That leader will be good at knowledge, leadership, and other requirements that must be considered.

– In your vision, what will Uniqlo in 5 to 10 years? You are holding the most important positions and you think it is very difficult to have a person like you. So, when you transfer your power, how will Uniqlo change?

– I will leave it to the people behind me like Mr. Ikezoe sitting here (the General Director of Uniqlo Vietnam) and other members of Uniqlo who take a leadership role in companies and shops all over the world.

I want them to promote their leadership ability to make the company strong, to bring happiness to employees, thereby contributing to society. We want to develop a business that contributes to society.

General Director of Uniqlo Vietnam, Mr. Osamu Ikezoe next to billionaire Tadashi Yanai.

The era of Southeast Asia is coming very soon

– Where is Vietnam in your company’s strategy? Uniqlo entered the markets of Singapore, Malaysia, Thailand, Philippines, Indonesia from 2009 to 2013 but 6 years later, Vietnam is only the 6th country in Southeast Asia to have Uniqlo stores.

– I think that Vietnam is a country with great potential both in intellectual position and hard work, labor, and hardship of the people.

Historically, too, your country has gone through a lot of hardships. You have been able to win previous wars with many big countries, but we could not do that.

So, for a country with such a rich history and conditions, I put a lot of hope in Vietnam.

– Southeast Asia is an important growth engine for Uniqlo with an ideal goal of adding 100 stores per year. Can you share specific strategies for the Vietnamese market in relation to other Southeast Asian countries?

– Talking about strategy, I confess that I hate strategy. I do not want to talk about strategy because strategy is what involves man-made. I want to say more about enthusiasm, about my thoughts.

As I said in the speech just now, the coming era, the coming years are the era of Southeast Asia.

And one day, maybe Ho Chi Minh City, Jakarta, Singapore, Manila, Bangkok will become commercial centers, cultural and art centers on par with Paris, London, New York, Tokyo.

There are even parts that the cities I just mentioned have begun to do so and achieved something. I think so.

– Thank you so much.

Mr. Tadashi Yanai was born in 1949. The first Uniqlo store was opened by Mr. Yanai in Hiroshima in 1984. After 35 years, Uniqlo has more than 2,200 stores in 25 countries around the world.

Yanai and his family currently own 44% of Fast Retailing, the group that owns the Uniqlo brand. Uniqlo is currently Japan’s richest man with an estimated net worth of $ 29.5 billion according to Forbes.

Photo: Quynh Trang