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Uniqlo (유니클로) generated more than 2 billion won ($1.7 million) in one day's sales on 11 November 2011 when it opened Asia's largest flagship store in central Seoul. The sales figure was the highest ever set by a fashion outlet in Korea. Uniqlo earns over US$1.2 billion in annual revenue with 134 shops in South Korea. [35]
In 1984, the company, which ran a menswear store in Ube, Yamaguchi, opened a new casual-wear store named Unique Clothing Warehouse in Hiroshima City; this was the forebear of Uniqlo. [5] In September 1991, Ogori Shoji changed its name to Fast Retailing Co., Ltd., and was listed on the Hiroshima Stock Exchange in July 1994. [5]
It is fully owned by the company Fast Retailing, which is better known as the owner of the retail chain Uniqlo. The name is a pun of the word jiyū (自由), meaning "liberty, freedom" (from high cost clothing). Its signature product is a pair of jeans, which costs 990 yen. As of November 2023 there are 472 locations. [2]
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Tadashi Yanai (柳井 正, Yanai Tadashi, born 7 February 1949) is a Japanese billionaire businessman and the founder and president of Fast Retailing, the parent company of Uniqlo ("unique clothing").
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