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Japan's Uniqlo to foray in Philippines retail market
Feb '12
Japan's leading apparel retailing chain, Uniqlo, is set to enter Philippines retail market this year by opening three stores this year, with an outlay of US$ 2.49 million.

First of these outlets would open in June this year at the Mall of Asia (MoA), and the company would soon finalise the site for its other two outlets.

Setting up of each of the outlet involves an investment of at least US$ 830,000, which falls under Category B of the Retail Trade Law of Philippines.

Uniqlo has become the 13th overseas retailer to register under the Retail Trade Law of Philippines over the past one decade.

Uniqlo will be venturing into Philippines through Fast Retailing Philippines, a joint venture firm of Philippines-based SM Retail Inc. and Uniqlo.

It is for the second time that SM Group is bringing a foreign apparel firm in Philippines, as the Group had earlier helped Forever 21 to penetrate in the Philippine market.

Uniqlo's foray in Philippines follows the launch of its brand operations in Thailand. The company has plans to open more outlets across 13 nations worldwide.

Fibre2fashion News Desk - India

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