Fast Retailing has announced a new partnership with Accenture, a global management consulting and technology services company, to digitise a wide range of its functions.
Fast Retailing, which owns retailers Uniqlo, J Brand, Theory, Comptoir des Cotonniers and Princess Tam-Tam, is now working towards creating a new shopping experience for its customers, where they can “receive the products they want, when and where they want them.” The Japanese retail group is aiming for an entirely new service platform, a seamless environment between physical and digital stores which will enable customers to shop when and where they want to, while at the same time reflecting customer feedback in product development and styling. Digitising operations entirely will significantly reduce the lead time from product planning to sales.
Commenting on the new venture, Tadashi Yanai, Fast Retailing Chairman, President and CEO said: “Fast Retailing is looking to merge the virtual and real, to maximise the potential of both and create an entirely new industry. Through our partnership with Accenture, we reveal the potential for an all new business, beyond the tradition confines of retail.”
He added “Building a world class business model, we are focused on stores, supply chain and the development of innovative talent, for the realisation of the revolutionary customer experience that our digital age calls for. This is a global phenomenon, and as a business continuing to expand worldwide, I truly believe that we have the ability to transform and to realise it.”
Under the joint initiative, Accenture will help build the technology platform to collect the actionable customer insights that will enable the customised experience for individual customers. For example, the technology, including supply chain and customer relationship management systems, will be fully transformed as a cloud-based infrastructure aiming at connecting customer, employee, and suppliers in near real-time.