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Fast Retailing to launch G.U brand outside Japan
30
Apr '11
With a view to boost overseas sales, Asia's largest clothing chain, Fast Retailing Co. proposes to launch its economical G.U. brand in foreign countries.

Osamu Yunoki, President of Fast Retailing's GOV Retailing Co. unit said that, they intend to launch the brand in overseas markets and may target emerging countries.

The retailer would launch its flagship outlet for its G.U. brand in Tokyo on April 29. Shirts under the brand are sold at 490 yen or six dollars, while jeans are sold for 990 yen.

Tadashi Yanai, Chief Executive Officer of Fast Retailing said that, the retailer intends to add 50 G.U. stores each year to have 200 outlets with annual turnover of 50 billion yen, by August 2013. The firm means to reduce its dependence on flagship Uniqlo brand, which now constitutes around 80 percent of the firm's total turnover.

After the massive earthquake of March 11, that left around 26,000 people in Japan either dead or missing, launch of Tokyo outlet was postponed to this month.

Fibre2fashion News Desk - India

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