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Marketplace Morning Report

Could Uniqlo become fashion’s biggest retailer?

Marketplace Morning Report

American Public Media

News, Business

4.5808 Ratings

🗓️ 28 November 2024

⏱️ 10 minutes

🧾️ Download transcript

Summary

From the BBC World Service: The CEO of Japanese brand Uniqlo, wants to become the world’s biggest clothing retailer. Tadashi Yanai is already the richest person in Japan, with a net worth of more than $45 million. Plus, Volkswagen is selling its factory in Xinjiang after pressure to leave the region, where the Chinese government is accused of carrying out human rights violations against Muslim ethnic groups. And later, exports of plastic waste from wealthier nations to lower-income countries are rising. Malaysia is now a global hub for plastic recycling, but how safe and sustainable is this trade?

Transcript

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0:43.8

The boss of the world's third biggest fashion retailer says it doesn't like fast fashion.

0:49.2

Hello, this is the Marketplace Morning Report, and we're live from the BBC World Service.

0:53.6

I'm Leanna Byrne. Good morning.

0:55.4

The boss of the Japanese brand Uniclo has been telling the BBC about his ambition to become the world's biggest clothing retailer.

1:02.8

Dadashi Anai is already the richest person in Japan with a net worth of more than $45 billion. His company is called fast retailing, but he doesn't want to be associated with fast fashion,

1:14.1

as he's been telling the BBC's Mariko Oy.

1:16.9

I'm at one of Uniclo's latest stores here in Shinjuku at the heart of Tokyo.

1:21.5

This year, Fast Retailing, which owns Uniclo, has achieved its goal of generating an annual

1:26.5

revenue of $ trillion yen.

1:28.3

To become the world's biggest retailer, though, it needs to at least double that.

1:33.3

But the boss, Tadashiyanai, even has a bigger target, a revenue of 10 trillion yen.

1:39.3

Age 75, can he achieve that as the company's president before passing the button to his successor?

1:48.0

I like to achieve it, and I believe I need to achieve it.

1:51.8

In order to do that, we need to imagine how different a 10 trillion yen firm is from a 3 trillion yen firm

1:58.2

and recreate our company every day.

...

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