UNIQLO Korean Stores Closed, But In China, They Are Full.

In July of this year, UNIQLO's parent company, Japan's fast marketing company, released its latest report. According to the report, in the 9 months from September 2018 to May 2019, UNIQLO's revenue amounted to 1 trillion and 820 billion yen (about 121 billion 100 million yuan), an increase of 7% over the same period last year.

In the wake of the decline of many international fast fashion brands in China, UNIQLO has mixed up in the Chinese market. Its revenue in the Chinese market in 2018 was 439 billion 800 million yen (about 29 billion 300 million yuan), while its net profit reached 73 billion 700 million yen, an increase of 47% over the same period last year. This means UNIQLO earns 4 billion 900 million yuan a year in China.

　 Closing shop in Korea

In contrast to the ups and down in China, UNIQLO is a cold shoulder in Korea. According to Japanese media reported on August 9th, UNIQLO is planning to close a store in the centre of Seoul, South Korea, because it has been boycotted by Korean consumers.

Not only that, because Japan and South Korea have not reached a consensus on international issues, resulting in a large-scale boycott of Japanese goods, including Japanese beer, automobiles, household appliances and so on. UNIQLO's clothes naturally cannot escape.

It is reported that even Japan's three largest auto giants, Honda, TOYOTA and Nissan, have been hit in South Korea, and their whereabouts in Korea have dropped by more than 30%.

However, it is understood that UNIQLO has nearly 190 stores in South Korea, and the clothes sold in Korea also have 140 billion yen a year, accounting for only 6.6% of the total revenue. Therefore, closing a store is not a big loss for your UNIQLO.

　　 600 stores in |7?

On the contrary, the Chinese market is the most important market for UNIQLO. Even UNIQLO CEO has said that the success of UNIQLO is half the Chinese market.

According to statistics, with the help of Chinese consumers, the Japanese enterprise almost has 90 new stores in China every year. Since 2012, UNIQLO has opened 598 new stores. It is just over half this year. UNIQLO is expected to open more than 600 stores in 7 years. It seems that the money of Chinese consumers is really profitable.