经济学人下载: 优衣库:回归根本 (1)

When asked what guides his vision of UNIQLO, Tadashi Yanai, its founder and chief executive,
当被问及是什么引导了他对优衣库的愿景时，优衣库创始人兼CEO柳井正

pulls off the shelf the 1987 autumn/winter collection catalogue of Next, a mass-market British retailer.
从架子上取下了英国畅销零售商Next1987年的秋冬时装目录。

All of the clothes are so classic, he says, that they could be worn today.
所有的衣服都很经典，他表示，现在也能穿。

While Inditex of Spain, which owns Zara, and Hennes & Mauritz of Sweden, the world's two largest clothing retailers,
西班牙INDITEX集团（Zara拥有者）以及瑞士的H&M，这两大世界服装零售商

slavishly follow fashion trends, UNIQLO, the main brand of the third-largest, Fast Retailing, of Japan, sticks to timeless basics.
盲目地追随潮流，但日本第三大零售商迅销公司的主打品牌优衣库却坚持永恒的基础款。

Mr Yanai has a solid base at home from which to expand into his Western competitors' main markets of Europe and America.
柳井正在国内有着坚实的基础，能够打入西方竞争对手的欧美主要市场。

But instead his priority remains Asia. He wants to turn UNIQLO into the world's largest clothing retailer
但他仍以亚洲为先。他希望将优衣库变成世界最大的服装零售商

by becoming the first Asian "SPA" or speciality store retailer of private-label apparel.
并通过成为亚洲首家“SPA”，即自有品牌服装专业批批发商实现此愿望。

"Asia is the engine of growth today," he says, pointing to the millions of consumers across the region who are reaching the middle class.
“今天的亚洲是一个经济增长的发动机，”他说，并指出该地区有百万客户正在步入中产阶级。

UNIQLO will open its first shop in India this year and is considering whether to expand into Vietnam and other countries
今年，优衣库将在印度开设首家商店并正考虑是否扩张至越南和其他国家

(it has already opened networks of shops in Indonesia, Singapore and Thailand).
（优衣库在印尼、新加坡和泰国设有网店）。

The success or not of UNIQLO's overseas operations matters greatly to investors at home.
优衣库海外经营的成功与否对国内的投资商至关重要。

Fast Retailing's shares—Mr Yanai owns just over 20% of the firm—have been rising since 2015,
分析师估计由于迅销公司的国际扩张和物流的改善，

largely, analysts reckon, owing to its international expansion and improved logistics.
该公司的股价—柳井正拥有该公司20%多的股权—至2015年以来一直上涨。

At home the firm is closing stores because the population is shrinking.
由于人口下滑，公司关闭了国内的商店。

Fast Retailing's operating profit in the year to August 2018 was 236.2bn yen ($2.15bn), the bulk of which is made up by UNIQLO.
到2018年8月，迅销公司的营业收益为2362亿日元（21.5亿美元），大部分收益都来自优衣库。

Last year UNIQLO's international revenue overtook its domestic sales for the first time and its foreign operating profit almost equalled its Japanese equivalent.
去年优衣库的国际收益首次超过了其国内收入，并且其国外营业利润几乎与起日本营业利润相当。

UNIQLO has a strong Asian foothold by way of China, home to over half its overseas shops.
优衣库在亚洲有着很强的立足点——近一半的海外商店都开设在中国。

China contributed around 70% of total international revenues last year.
去年，中国贡献了约7%的国际总收益。