The Founder Of Fast Fashion Brand Is The Richest Person In The Country.

As a necessity in people's life, demand is relatively stable.

Japan's UNIQLO's low cost basic account is a special case, but it also captures some trends and has learned some successful fast fashion brand strategies from the sister brand GU.

Japan's richest man is no other than Japan.

The founder of Fast Retailing Co. is the fast fashion brand, Uniqlo, which accounts for more than 80% of the group's total sales.

As of August 1st, Tadashi Yanai and his family's net assets amounted to $17 billion 100 million.

Although his wealth shrank by 4 billion 800 million dollars last year, he still firmly occupied the throne of Japan's richest man.

The founder of Zara, Spain's fast fashion brand, Amancio Ortega Ortega, founder of the world's largest apparel retailer, is not only the richest in Spain but also the richest in Europe.

As of August 1st, his personal net worth reached $75 billion 100 million, ranking 2016 in Forbes's global billionaires list. Last year, he briefly surpassed Microsoft Corp founder Bill Gates, the world's richest man in August 1st.

In addition, the Brenninkmeijer family holding Holland's fast fashion brand C&A is also the richest family in Holland. For eight consecutive years, it has won the top Weston family of Ireland's richest family, not only has British luxury goods department Selfridges, but also Britain's fast fashion brand Primak.

Clothing is a necessity in people's life.

Relatively stable.

In recent years, these fast fashion brands have conquered one market after another in low price and rapidly updated fashion. Among them, Japan's UNIQLO's low cost basic account is a special case, but it has also caught some trend and has learned some successful fast fashion brand strategies from the sister brand GU.

The main points of the success of fast fashion brands are mainly new, faster and lower prices than competitors. Most of their suppliers set up garment factories in the least developed countries with low wages. The working conditions of these local workers are often criticized by public opinion.

Vicki Cantrell, the senior vice president of the US retail Confederation, believes that the main driving force for fast fashion development is technological drive and the change of people's consumption psychology.

She explained that many years ago, women would spend a lot of money on a special little black dress.

But now that social media is developed, people can quickly understand the changing trend of global fashion and taste quickly. They are more willing to choose a fast fashion retailer such as H&M to buy costumes, but the styles are updated faster.

In the same way, the change of people's consumption psychology led to the golden age of the development of department stores in the ~70 century in 60s.

At that time, a large number of middle class migrated to the suburbs, which brought a large number of tourists to large shopping malls and commercial complexes, and people could buy everything they needed in a big shopping mall.

Vicki Cantrell believes that fast fashion is not simply to optimize the supply chain, reduce the price of goods, but also to understand the change of consumer psychology.

Nowadays, in order to keep up with the trend of digitalization, department stores usually provide a richer shopping experience.