Daiso Founder Dies At 80 Due To Heart Failure
Hirotake Yano pioneered the budget-shopping experience at 29 years old.
By Tamara Jayne — 20 Feb 2024, 04:30 PM
Hirotake Yano, founder of Daiso, has died from heart failure at the age of 80
The Japanese billionaire died in Hiroshima on 12 February, according to a statement from his company on 19 February.
A private funeral was held by his close friends and family members.
In 1972, Yano started his first business, a street vending shop named Yano Shoten or Yano Store, where all items were priced at 100 yen.
Five years later, he renamed it Daiso.
When he was 29 years old, Yano opened his first street vending business with fixed prices, because he and his wife found pricing items individually too time-consuming.
The name Daiso translates to "creating something big", which reflected his ambitions for the company.Yano's entrepreneurship and innovative spirit has revolutionised the shopping experience for millions around the world. He's even seen as a pioneer of the budget-shop model.
Under Yano's leadership, Daiso grew into a global phenomenon with around 6,000 stores in 30 countries
Daiso has become so successful that the business model Yano pioneered is now popular all over the world.
The Japanese discount store has over 70,000 different products in stock, and is reputed for introducing over 1,000 new products every month.
Yano had a net worth of USD1.9 billion (RM9.1 billion), according to the Bloomberg Billionaires Index.
