Uniqlo's Fast Retailing plans to open 1,000 stores in China
Japan’s Fast Retailing has revealed plans to open 1,000 new stores in Greater China over the next ten years.
"Looking ahead to potential development in Asia, we believe that China, Hong Kong and Taiwan, along with Asian nations and India hold the greatest potential for future Uniqlo growth," the company said in its annual report. Fast Retailing added that it expected these target markets to see an “explosion” in middle-class consumers.
The retailer, which along with Uniqlo also owns Comptoir des Cotonniers and Aspesi, said it expects to open 1,000 stores or more in other parts of Asia over the same time frame.
Uniqlo International is currently forecast toovertake the Uniqlo Japanese division in sales by 2015, with 200-300 new Uniqlo stores added internationally each year. When broken down, this expansion rate will see 100 new stores for Greater China each year, between 50 and 100 in Asia and 50 to 100 in Europe and the US.