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Aug 25, 2011
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Uniqlo teams up with a real estate developer to expand Asian store network

By
AFP
Published
Aug 25, 2011

TOKYO, Aug. 24, 2011 (AFP) – Japanese clothing company Fast Retailing announced on Wednesday that it has formed an alliance with real estate developer Mitsui Fudosan in order to expand the store network of its flagship brand Uniqlo in East Asia. Fast Retailing and Mitsui Fudosan are very familiar with each other, as the latter already accommodates Uniqlo points of sale inside its luxurious chain of shopping centres ‘Lalaport’ in Japan.

Uniqlo
Uniqlo flagship store in Osaka

"Thanks to the new partnership, we wish to further strengthen our ties with each other in order to accelerate the development of Uniqlo’s store network across East Asia, where both companies have their own expansion plans”, Fast Retailing added.

By virtue of this alliance, Mitsui Fudosan has agreed to share information with Fast Retailing about its real estate projects in East Asian cities. This will allow Uniqlo to act quickly to seize potential business opportunities.

Offering casual wear of relatively good quality at cheap prices, the Uniqlo brand has been enjoying great popularity in Japan for more than ten years, as well as abroad more recently, where Fast Retailing’s business has been thriving thanks to the opening of new boutiques.

The Japanese group, which operates around 800 Uniqlo stores in Japan, is counting on an international expansion in order to continue growing at the desired rhythm. It is currently concentrating on strengthening its presence in Asia, beginning with China, but also in Europe and the United States.

Tadashi Yanai, the president of Fast Retailing, pointed out a few months ago that he aimed to launch 500 new Uniqlo stores every year across the world for the next three to five years, of which 90% will be outside of Japan, with the aim to become a strong competitor to foreign brands such as Spain’s Zara, American brand Gap or even Sweden’s H&M.

(translated by FashionMag)

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