Uniqlo owners Fast Retailing to acquire J. Crew Group Inc
Uniqlo owners Fast Retailing is reportedly involved in talks to acquire J. Crew Group Inc.
Two sources cited by Bloomberg this weekend said the Japanese company is in discussions to acquire the aspirational fashion retailer from TPG Capital and Leonard Green & Parners LP. The deal could be valued at as much as USD 5 billion.
It’s thought Fast Retailing owner Tadashi Yanai has set his sights on turning the apparel giant into the world’s biggest clothing retailer, by pushing forward with low-priced casual wear into new markets and investigating potential acquisitions in order to compete with Spain’s Inditex and Sweden’s Hennes & Mauritz.