05-07-2017, 01:52 PM
How a Bankrupt Fishmonger Became a Dollar-Store Billionaire
By Venus Feng and Grace Huang
July 4, 2017, 5:00 AM GMT+8
Selling everyday items to bargain hunters has made the founder of Japan’s biggest discount store a billionaire.
Hirotake Yano, founder and president of closely held Daiso Sangyo Corp., the self-described “Japanese shopping wonderland,” was one of the country’s first vendors to adopt a single-price model and used that strategy to build a net worth that the Bloomberg Billionaires Index values at $1.9 billion.
“His timing was perfect,” Pascal Martin, a partner at OC&C Strategy Consultants, said in an email. “Opening the first 100-yen store in 1991, a couple of years after the burst of the Japanese economic ‘bubble,’ which was the beginning of a profound shift in Japanese consumer culture.”
More details in https://www.bloomberg.com/news/articles/...illionaire
By Venus Feng and Grace Huang
July 4, 2017, 5:00 AM GMT+8
Selling everyday items to bargain hunters has made the founder of Japan’s biggest discount store a billionaire.
Hirotake Yano, founder and president of closely held Daiso Sangyo Corp., the self-described “Japanese shopping wonderland,” was one of the country’s first vendors to adopt a single-price model and used that strategy to build a net worth that the Bloomberg Billionaires Index values at $1.9 billion.
“His timing was perfect,” Pascal Martin, a partner at OC&C Strategy Consultants, said in an email. “Opening the first 100-yen store in 1991, a couple of years after the burst of the Japanese economic ‘bubble,’ which was the beginning of a profound shift in Japanese consumer culture.”
More details in https://www.bloomberg.com/news/articles/...illionaire