Uniqlo recruits ex-Forever 21 Executive
Since the 1 January, US operations at Uniqlo have been under the control of Larry Meyer, previously Executive Vice President and Chief Financial Officer at Forever 21. While at Forever 21, Meyer successfully led the brand’s entry into the European market.
Larry Meyer moved to Forever 21 in 2001 after spending 5 years as chief financial officer and senior vice president at childrenswear retailer Gymboree. He held similar functions in his previous position at Toys’R’Us. Prior to that, Larry Meyer was vice-president of the Nielsen Company. The ten years previous to that, Meyer was at PepsiCo.
“Larry's addition to the Uniqlo US leadership team is a further indication of the global organization's commitment to the important U.S. market," said Tadashi Yanai, Fast Retailing’s chairman, president and chief executive.
Between now and 2020, Uniqlo hopes to have 200 stores in the United States. The Fast Retailing Group, which owns Uniqlo, currently has 833 stores in Japan, as well as 300 other locations over 12 countries.
For its current financial year ending 31 August, the company is expecting to make 850 million euros net profit (+17.9% and) and revenue of 10.5 billion euros.
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