The Lightweight Reflective Jacket Essays - Fast Retailing, Uniqlo

The Lightweight Reflective Jacket Essays - Fast Retailing, Uniqlo The Lightweight Reflective Jacket By UNIQLO Europe Ltd. 7th December 2015 3242 words Table of Content Pages i.Executive Summary.3 ii.Introduction..4 iii.Organization Background.5 iv.Environmental Analysis....... a.PESTLE Analysis.8 b.SWOT Analysis10 v.Marketing Objective..... 12 vi.Marketing Strategy (STP).13 vii.Marketing Mix.. a.7.1. Product..15 b.7.2. Place..15 c.7.3. Price..16 d.7.4. Promotion..16 e.7.5 Budget17 f.7.6. Performance evaluation.....18 viii.Conclusion...19 ix.Bibliography.....20 x.Appendix.. 25 Executive summary UNIQLO has been a successful company with their wide range of clothing products and is continuing to grow bigger each day. One of their greatest inventions, the Ultra Lightdown jacket collection has been a great hit to the market. With users become more safety conscious; the company has planned to produce an improved collection of multi-use jacket, which is the Lightweight Reflective jacket. Other than the usual features that are light, thin and can withstand light rain, the new collection of jacket will have reflective strips that can make the user to be seen in dark condition or at night. The jacket is suitable for users of all ages, especially for someone that wants functionality aside from the usual fashionable clothing. Environmental analysis using PESTLE and SWOT has been used to provide a better understanding into the market for the new lightweight reflective jacket. Marketing tools have been use extensively by the company for the marketing of the product. The new collection of jackets is produced in China with UNIQLOs partner factories and will be shipped to UNIQLOs warehouse in London. The distribution of the product will take place in their retail stores and the product is available to be purchased online. The price of the product will be affordable as the company positioned itself as a low cost, high quality fashion retailer. Promotion of the product varies from advertisement in several platforms, which are newspapers, magazines, television and also from UNIQLOs main website. Moreover, the product will also be advertised through social media such as Facebook and Instagram. UNIQLO believes that with all the promotional activities, their new range of Lightweight Reflective jacket will be yet another successful business venture. Introduction Fashion industry has been growing rapidly in United Kingdom (UK) for the past five years (Fashionunited.co.uk, 2015). With the growing industry, more foreign fashion retailers are adding UK into their expansion plan. Fast Retailing Co Ltd., a Japanese retail company, enters the UK market with the opening of its first UNIQLO store in London in 2001. UNIQLO is a brand that is well known for its simple designs and comfort clothing to their customers. The report is aim at the senior management of Fast Retailing Co Ltd. and UNIQLO to produce an improved version of their famous Ultra Lightdown jackets, which is the Lightweight Reflective jacket. Organization Background UNIQLO is a unisex casual wear retail store, which owned by Japan-based apparel business group Fast Retailing Co Ltd. It was founded by Tadashi Yanai and the first retail store opened in Hiroshima, Japan in 1984. Initially, the name UNIQLO was unique clothing warehouse which means simple and clever, like their clothes, high quality and functional. UNIQLO has expanded rapidly in the past decade from a family business to a well-known global brand. As of today, UNIQLO has become the fourth largest specialty store retailer of private label apparel (SPA) after ZARA, H&M, and The GAP. In 2001, UNIQLO opened their first store in London and up to now they have 10 stores in United Kingdom. Furthermore, UNIQLO currently has approximately 54960 full-time employees across over 18 countries and produce about six hundred million of items annually. Due to low-cost labour of China, 90% of their apparel is manufactured in China with the remaining 10% of their production in other Asian countries. Thus, UNIQLO can maintain low price and provide their customers with high quality product. According to Fast Retailing (2014), UNIQLO has become the third worldwide apparel specialty stores with a large proportion of market share. Its offerings include jeans, trousers, skirts, t-shirts, sweaters, knitwear, jackets, and inner wear. Moreover, UNIQLO has established SPA (Specialty store retailer of Private label Apparel) business model, which engages in design, production and sales. UNIQLO successfully differentiates itself from other apparel companies on account of adjustments to production and minimize store construction cost. Besides, they purchase large amounts of the materials of apparel to maintain low cost thereby allow them to pass these cost savings to their customers. However, Ashley Mcgown (2010, p.1) said, We