Japan’s Fast Retailing ramps up store openings in Asia

Looking to become the world’s leading clothing retailer, Japan’s Fast Retailing Co. plans to introduce its Uniqlo stores in the fast-growing Indian and Brazilian markets and to vastly expand its presence in China, where the number of stores are intended to leapfrog those in Japan by 2020.

So-called fast-fashion retailers such as Spain’s Inditex SA, which is the world’s largest clothing retailer and operates the Zara chain, and Sweden’s Hennes & Mauritz AB are quickly expanding their respective empires around the globe as consumers move away from higher-priced clothing in favor of less-expensive options. Fast Retailing, Asia’s leading clothing retailer by sales, said it aims to move ahead of Zara and H&M within a decade, as it ramps up store openings – particularly in Asia.

Uniqlo is forecast to have 844 stores in Japan and 76 in China by the end of August. By 2020, Uniqlo aims to have 1,000 stores in China through organic growth alone. Zara had 60 stores in China as of 31 October.