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Uniqlo seeks to multiply global store count
07 Dec '09
2 min read
Uniqlo, a Japanese clothing retailer aims to triple the number of its stores, across the world. It intends to open 1,500 more stores in next five years. One third of these stores will be in China and rest will be set up across Southeast Asia.
In spite of the economic downturn, a number of shoppers rushed into Singapore's first Uniqlo outlet, earlier this year. This resulted into surprising demand surge with an increase in sales figures in Singapore.
Due to the unexpected success of the sales of first store opened eight months ago, the company received many offers, said Mr. Naoki Otoma, Chief Operating Officer, Fast Retailing Group. Penetrating new markets and acquiring market shares in places such as Indonesia, Malaysia and Thailand, are the priority issues of the company.
Presently, Uniqlo has self-owned stores in China and Hong Kong and joint ventures in South Korea and Singapore. This year, the company has set up its third outlet in Singapore. The Shop set up in an area of 17,000 sq. feet will display products from its designer collaborations, like Jil Sander.
The company is looking to set up at least five more outlets in Singapore in next two years, and to generate US $10 million per year from its Singapore outlets. Besides, it intends distinguish itself from its competitors by highlighting its Japanese links.
Being a Japanese brand, the retailer group tries to incorporate Japanese elements into its product manufacturing, for instance, it includes Japanese technology in raw material, textiles, said Mr. Otoma.
There are over 800 stores of Uniqlo across the world whose parent company, Fast Retailing Group is among the largest specialty apparel retailers in the world, which aspires to become the biggest clothing manufacturer and retailer of the world with yearly business of $57 billion within next ten years.
In spite of the economic downturn, a number of shoppers rushed into Singapore's first Uniqlo outlet, earlier this year. This resulted into surprising demand surge with an increase in sales figures in Singapore.
Due to the unexpected success of the sales of first store opened eight months ago, the company received many offers, said Mr. Naoki Otoma, Chief Operating Officer, Fast Retailing Group. Penetrating new markets and acquiring market shares in places such as Indonesia, Malaysia and Thailand, are the priority issues of the company.
Presently, Uniqlo has self-owned stores in China and Hong Kong and joint ventures in South Korea and Singapore. This year, the company has set up its third outlet in Singapore. The Shop set up in an area of 17,000 sq. feet will display products from its designer collaborations, like Jil Sander.
The company is looking to set up at least five more outlets in Singapore in next two years, and to generate US $10 million per year from its Singapore outlets. Besides, it intends distinguish itself from its competitors by highlighting its Japanese links.
Being a Japanese brand, the retailer group tries to incorporate Japanese elements into its product manufacturing, for instance, it includes Japanese technology in raw material, textiles, said Mr. Otoma.
There are over 800 stores of Uniqlo across the world whose parent company, Fast Retailing Group is among the largest specialty apparel retailers in the world, which aspires to become the biggest clothing manufacturer and retailer of the world with yearly business of $57 billion within next ten years.
Fibre2fashion News Desk - India
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