Striving to offer "Fashions filled with dreams and joy"
to even more people
A lthough CROSS PLUS has a long history of more than 50 years, we have always enjoyed a reputation as being a company that is "full of youthful vigour and energy." It is my belief that this reputation is attributable to the strength of our company's DNA, which has been handed down from one generation to the next. It is in the character of our DNA to always meet each and every new challenge of offering fashions that are cherished by so many people and to create new lifestyles.
All throughout the 50 or more years of our company's history, the standard of living of the Japanese people has undergone a steady and amazing transformation. And hand-in-hand with this growth, every passing year has seen the level of demands by consumers with regard to fashion also rise. Satisfying the constantly-rising needs of these consumers have been the mass retailers. CROSS PLUS endeavors to meet the needs of these mass retailers, who are the heart of the retailing industry and our valued customers, by providing them with "large volumes of sure-selling products that are casually fashionable, of proven quality, delivered quickly, and at low cost.")
We at CROSS PLUS pride ourselves on holding the number one position in the ladies apparel market in terms of numbers of items sold and market share, particularly in the mass retailing industry. This accomplishment is made possible by our company's rapid inventory ratio and financial strength. The thorough inventory management system, which has been employed since CROSS PLUS was founded, forms the foundations of the business, and has been instrumental in leading to our company's financial stability and strength.
The Division structure, an organizational system unique to CROSS PLUS, also contributes to the company's ability to meet the sophisticated demands of our customers. Each division is organized by item, target, or brand, and conducts business under an integrated management system, linking planning, production, and marketing and sales in a continuous operation. This system enables CROSS PLUS to respond quickly to the needs of the customers and produce greater growth in profits.
In the future, the retail industry may undergo reorganization or other changes, resulting in even greater upheavals in the industry. These changes to the retail industry will consequently force changes upon the apparel industry. I am convinced that unless CROSS PLUS is able to transform itself now, there will be no future for our company. I would like to share with you some of the business strategies that have been developed to successfully achieve the transformation of CROSS PLUS.
The chain store apparel business conducted by CROSS PLUS, the core company of the CROSS PLUS Group, targets mass retailers and specialty shops, and forms the foundations of the Group's profits. We plan to enhance the branding of our products as well as our sales site suggestion skills, in order to further develop our company's strong points, such as our ability to offer fresh, high-quality products at reasonable prices. I firmly believe there is tremendous potential for these efforts to lead to much greater expansion of our business.
Recently, markets and consumers have undergone significant changes and diversification, creating a demand for high-value-added goods and services that are rich in originality. In response to this demand, three of our subsidiaries are engaged in four lines of retail-centered businesses: the SPA*1 business, the SPA business for designer brands, the OEM*2 business, and the business of importing brands. The SPA business for designer brands promotes the brands of Junko Shimada and Atsuro Tayama, who are both Paris collection designers. The business of importing brands handles the GAS brand from Italy. GAS is well-known as a sponsor of the Repsol Honda MotoGP racing team and the MTV rugby team. I believe that having each of these subsidiaries join hands to make optimal use of one another's competencies will enable CROSS PLUS to establish a new base for generating profits in such untapped channels as department stores and specialty shops, as well as lead to the heightening of the synergy throughout the CROSS PLUS Group.
The backbone supporting these strategies of our Group is an international information network. This extensive network reaches every corner of the globe, gathering information from the sources of the world's fashion, including Paris, Milan, and New York. The ability to gather the latest information directly from these various fashion centers will be a very potent weapon in our business arsenal for future product planning.
CROSS PLUS, a company constantly endeavoring to create and implement strategies for the future, successfully celebrated the 50th anniversary of its founding in 2001. The 50th anniversary was an important point in our history, so we took this opportunity to turn our hearts and minds back to the very beginning, and attend to our business with a fresh outlook. The bold decision to change the company's name from the long-familiar "Sakuraya Shoji" to "CROSS PLUS," reflects this desire to start anew. There were intense discussions throughout the company regarding whether or not to change the name. I, personally, was also greatly attached to the name "Sakuraya Shoji." But the company was given the new name CROSS PLUS to serve as a driving force for the management and all employees. With this new name, our company set forth to meet the challenges of the future.
I feel that the 21st century holds challenges that are more difficult and shift more quickly than we've ever faced before. It is my sincere wish that regardless of the challenges, all of us at CROSS PLUS will call upon our intelligence and resourcefulness, polish our specialized skills, and stand together shoulder to shoulder to meet the future.
Your continued warm advice, guidance, and support will be greatly appreciated.
*1 SPA (specialty store retailer of private label apparel)
*2 OEM (original equipment manufacturer) A company that manufactures a product bearing the brand name of a reseller.
Changing from the long-familiar name "Sakuraya Shoji" to "CROSS PLUS"
In 2001, in conjunction with the celebration of the 50th anniversary of its founding, the company changed its name to reflect its vision of launching itself anew into the future. The name "CROSS" is taken from the overlapping or crossing of the weave of a CLOTH or fabric. Cross has nearly the same pronunciation as Cloth, particularly when spoken by a Japanese. Cross also means to change, to intersect, to multiply, or to overcome difficulties. "PLUS" means to add, combine, or to be positively inclined.
The name "CROSS PLUS" expresses the company's stance of combining the abilities and personal traits of each individual employee and integrating these attributes into something much greater, enabling the company to provide consumers with value-added products and services. |
Fumio Mori
President and CEO | |
