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FR & Daiei to smart up new clothing brand

27
Jan '06
Casual wear offering firm FAST RETAILING CO LTD (FR) is proud to announce its decision to establish a new casual clothing brand. At its extraordinary board meeting held on January 26, 2006, the FR Directors determined to sign a business agreement with The Daiei Inc for the express purpose of developing the new brand.

The Daiei Inc run by President and COO Yasuyuki Higuchi, is based in Kobe, Hyogo Prefecture. Details of the business tie up can be found below.

1. Reason for business tie up
For some time now, FAST RETAILING has been studying the possibility of developing another brand to compliment its current mainstay UNIQLO brand. And now we have decided to apply the years of expertise gained through our UNIQLO operation to establish and market a new, cheaper brand of casual clothes.

With this aim in mind, we have also decided to enter into a business tie up with Daiei to help us in the development of the new brand. And we have now concluded the basic document for this agreement. FAST RETAILNG aims to further increase the corporate value of its business group through the development of this new brand.

2. Outline of new brand and The Daiei Inc business agreement
FAST RETAILING plans to begin managing the new brand from the autumn of this year. We hope to nurture and mold the new brand into one that will attract a diverse group of loyal customers from children to adults. We aim to manage the entire process from design through production and retail of the new brand.


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