UNIQLO and Toray Announce Third Stage of Strategic Partnership
Accelerating Globalization and Digitalization to Create a New Industry
TOKYO, Nov 17, 2015 - (ACN Newswire) - UNIQLO CO., Ltd. (company headquarters registered in Yamaguchi City) and Toray Industries, Inc. (company headquarters registered in Tokyo) today jointly announce the third stage of their strategic partnership for the next five years. First established ten years ago, the newest stage of the partnership between the two companies aims at strengthening collaborative efforts further and creating a new industry centered the future.
UNIQLO, leading apparel retailer and originator of LifeWear clothing that is made for all, and available in 841 stores in Japan and 798 stores abroad (as of August 31, 2015), and the Toray Group, global top business group of advanced materials, with its 98 subsidiary companies in Japan and 155 companies abroad (as of March 31, 2015), are accelerating globalization and digitalization to achieve the initiatives listed below. From 2016 through 2020 the total number of transactions between the two companies is expected to reach 1 trillion yen.
Acceleration of globalization and digitalization to create a new industry:
- Realize an end-to-end business model by utilizing the Internet of Things (IoT)- Reduce production lead times further- Increase globalization of production sites and locations further- Optimize production in each location- Expand production sites to support business growth in Greater China (China, Hong Kong and Taiwan)
Maximize LifeWear that is made for all:
- Improve comfort and functionality of current products- Conduct research and development of products that offer completely new added value- Develop new sportswear to enhance people's daily lives
About UNIQLO LifeWear
Apparel that comes from the Japanese values of simplicity, quality and longevity. Designed to be of the time and for the time, LifeWear is made with such modern elegance that it becomes the building blocks of each individual's style. A perfect shirt that is always being made more perfect. The simplest design hiding the most thoughtful and modern details. The best in fit and fabric made to be affordable and accessible to all. LifeWear is clothing that is constantly being innovated, bringing more warmth, more lightness, better design and better comfort to people's lives.
About UNIQLO and Fast Retailing
UNIQLO is a brand of Fast Retailing Co., Ltd., a leading global Japanese retail holding company that designs, manufactures and sells clothing under seven main brands: Comptoir des Cotonniers, GU, Helmut Lang, J Brand, Princesse tam.tam, Theory, and UNIQLO. With global sales of 1.68 trillion yen for the 2015 fiscal year ending August 31, 2015 (US $13.88 billion, calculated in yen using the end of August 2015 exchange rate of $1 = 121.18 yen), Fast Retailing is one of the world's largest apparel retail companies, and UNIQLO is Japan's leading specialty retailer.
With a corporate statement committed to changing clothes, changing conventional wisdom and change the world, Fast Retailing is dedicated to creating great clothing with new and unique value to enrich the lives of people everywhere. For more information about UNIQLO and Fast Retailing, please visit www.uniqlo.com and www.fastretailing.com.
About Toray Industries
Having begun in 1926 with the development of rayon, Toray will celebrate 90 years since its establishment in 2016. Today the company develops advanced materials through the convergence of organic synthetic chemistry, polymer chemistry, biotechnology and nanotechnology, and its achievements in these areas lead to the creation of new products by business partners all around the world.
With a corporate philosophy of contributing to society through the creation of new value with innovative ideas, technologies and products, Toray will continue to help turn dreams into reality for people and society.
For media queries, please contact:
Fast Retailing Corporate PRAldo Liguori / Pei Chi TungTel. +81 (0)3 6865 0960
Toray IndustriesToshiki Matsumura / Tamaki NakajimaTel. +81 (0)3 3245 5179
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