Fast Retailing Co., Asia’s biggest clothing chain, aims to open at least 200 Uniqlo stores in the US by 2020 as it seeks to raise sales sixfold.
The Japan-based company, which plans to open its second US store on New York’s Fifth Avenue next year, aims for revenue to reach JPY5 trillion (USD60 billion) by 2020 from JPY815b last fiscal year. It’s considering opening stores in San Francisco, Chicago and Boston, according to Shin Odake, CEO of Uniqlo’s US unit.
The retailer said on 8 October that it will add 44 Uniqlo stores overseas and 36 in Japan in the 12 months to August, raising its total to 1,024. That’s the same pace of openings as last fiscal year. The company has said it aims to boost the tally to 4,000 by 2020.
(Source: BusinessWeek)