Xuanfu In Front Of The Hall Will Be Promoted To President, And The Printed Products Will Be Changed

According to media reports, the parent company of Muji Ryoko, Japan, has announced that the 52 year old Tangqian Xuanfu will be promoted to President on September 1.

Prior to that, he was CFO of FMCG and head of business of UNIQLO in Europe and America. He was responsible for many business activities of FMCG, including global e-commerce and global marketing activities, corporate public relations activities, logistics and information technology. He was once thought to be the successor to Liu Jingzheng, President and President of Fast Retailing.

Mr. Matsuzaki, 67, will step down as president of the Ryoko project as a non representative vice president. This is also the change of president in the past six years.

As of the third quarter of 2021 (from September 1, 2020 to May 31, 2021), the revenue and sales volume of liangpin plan reached 345.049 billion yen and 344.025 billion yen respectively. The business income of the Japanese headquarters is 226655 million yuan, and the number of domestic commercial stores is 494. In East Asia, the operating revenue was 95.579 billion yen, with 430 stores. While the European and American business revenue was only 11.847 billion yen, a loss of 2.555 billion yen, and the number of stores was only 59.

Although Matsuzaki had previously carried out structural reforms such as inventory reduction, and restored the company's ability to maintain the company's property deteriorated due to a large number of stores, in recent years, due to the epidemic situation and market competition, there have been some crises in the project.

In particular, Muji has been unable to operate normally due to the expansion of the new coronavirus epidemic, and its subsidiaries in the United States even went bankrupt last year. In addition, Muji sales in the Japanese market and the same store customer flow are also declining. In the Chinese market, the quarterly sales volume from March to may 2020 is nearly 50% lower than that in the past five quarters.

MUJI entered the Chinese market in 2005, and by the end of 2019, the number of Muji stores in China has exceeded half of the number of global stores. However, it has been criticized for its high pricing and product quality problems, as well as the emergence of a large number of domestic brand competitors, making Muji difficult to move in the Chinese market.

In order to reduce the cost, Muji has launched asexual clothing with fewer yards, which can not only increase the sales volume, but also reduce the inventory. On October 1, 2020, Japanese companies also announced that 72 clothing products would be sold at a reduced price in order to increase sales. In recent years, we continue to carry out cross-border cooperation, even if there is not much water spray, but for the sake of brand image building and consumer protection, Muji is still trying.

At the beginning of this year, its total market value reached 10.8725 trillion yen, even surpassing INDITEX, the parent company of Zara, to become the largest clothing company in the world. It has many brands such as UNIQLO and UG, and the performance of UNIQLO accounts for more than 80%. As of November 2020, UNIQLO has 2298 stores worldwide. Fast retailing has also been ahead in digital transformation. In 2017, it launched the "clear plan". According to the financial report in 2020, the proportion of e-commerce sales of Fast Retailing in the total sales volume has reached 15.6%.

It is expected that in the fiscal year 2020 (up to August 2021), the plan will reach the level of * *. Matsuzaki believes that the previous reform has been effective and plans to update the group's operating system. In the future, the appointment of Tangqian Xuanfu may bring a new enterprise strategy to the liangpin project. With the help of the previous experience and resources, we can gain insight into the main consumer groups in the market and restructure the enterprise business.