UNIQLO and Toray Announce Third Stage of Strategic Partnership
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Uniqlo 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
Questions & Answers
Q.What is the anticipated financial scale of the partnership between Uniqlo and Toray for the next five years?
What is the anticipated financial scale of the partnership between Uniqlo and Toray for the next five years?
From 2016 through 2020, the total number of transactions between the two companies is expected to reach 1 trillion yen.
Q.What are the core strategic initiatives for the partnership's third stage?
What are the core strategic initiatives for the partnership's third stage?
The initiatives focus on accelerating globalization and digitalization to create a new industry, and maximizing LifeWear products.
Q.What specific actions will be taken to advance globalization and digitalization?
What specific actions will be taken to advance globalization and digitalization?
Actions include utilizing IoT for an end-to-end business model, reducing production lead times, and expanding production sites, particularly in Greater China.
Q.What specific goals does the partnership have regarding the LifeWear product line?
What specific goals does the partnership have regarding the LifeWear product line?
They aim to improve comfort and functionality of current products, conduct research and development for new added-value products, and develop new sportswear.