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Uniqlo Billionaire Yanai Revisits Drucker to End Slump

Tadashi Yanai, Japan’s richest man, used advice from management guru Peter Drucker to build his Uniqlo clothing empire. To pull out of a slump that’s hammered profits and shares, the billionaire is revisiting the lessons.

Yanai, 61, founder and president of Fast Retailing Co., built his estimated $9.2 billion fortune over 26 years, turning his father’s tailor shops into the Uniqlo chain of low-priced casual wear to become Asia’s biggest clothing retailer. Yanai says his success was inspired by Drucker’s management strategies and the idea of “customer creation” with a product that creates demand.