Uniqlo sales in U.S. will surpass Japan sales within 10 years: Yanai
TOKYO —
The CEO of Fast Retailing Co, which operates Japan’s cheap chic clothing chain Uniqlo, said Friday that Uniqlo sales in the United States are expected to surpass the brand’s sales in Japan by 2021.
Tadashi Yanai made the comments in New York where he opened the biggest-ever Uniqlo outlet on New York’s Fifth Avenue on Friday, the company’s second store in the city. Another store will be opened Oct 21 on 34th Street in Manhattan.
Yanai said that Uniqlo is aiming to open between 200 and 300 stores per year worldwide to boost its global presence and compete with bigger rivals such as clothing giant Gap and Spain’s Zara.
In the U.S., Yanai said Uniqlo plans to open five stores in New York city, as well as flagship stores in Chicago, Los Angeles and San Francisco, the Nikkei newspaper reported.
On Wednesday, Fast Retailing said its group net profit fell 11.9% to 54.4 billion yen for the fiscal year ending in August, its first net profit decline in four business years.
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Weasel
Might want to make sure they don't follow the GAP mode of business.
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JapanGal
Chic? Are you kidding? They have the ugliest designs and choice of colors I have ever seen.
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