UNIQLO to expand Australia’s interstate in pursuit of growth
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Japanese retailer Fast Retailing may have to inject new capital into UNIQLO Australia to fund the next phase of growth as the casual clothing chain expands into new states and suburban markets, increasing pressure on department stores and specialty retailers.
UNIQLO, which opened its first store in Australia a year ago, wants to become the market leader in casual wear by 2020, overtaking established brands such as Just Jeans, Sussan and General Pants, as part of its parent’s goal to become the world’s leading clothing company.
UNIQLO’s founder, Fast Retailing president Tadashi Yanai, plans to open 200 new stores worldwide this year and Australia figures prominently in his growth ambitions.
Questions & Answers
Q.What is UNIQLO Australia's ambition for the casual wear market?
What is UNIQLO Australia's ambition for the casual wear market?
UNIQLO Australia aims to become the market leader in casual wear by 2020. This objective involves overtaking established brands like Just Jeans, Sussan, and General Pants, as part of its parent company's broader global goal.
Q.Which existing retailers might face increased competition from UNIQLO's expansion?
Which existing retailers might face increased competition from UNIQLO's expansion?
UNIQLO's expansion into new states and suburban markets will likely increase pressure on both department stores and specialty retailers. This includes established casual wear brands operating in Australia.
Q.How long has UNIQLO been operating in Australia?
How long has UNIQLO been operating in Australia?
UNIQLO opened its first store in Australia a year ago. This initial presence is now being followed by plans for significant expansion across the country.
Q.What are the expansion plans of UNIQLO's founder for this year?
What are the expansion plans of UNIQLO's founder for this year?
UNIQLO's founder, Tadashi Yanai, intends to open 200 new stores globally this year. Australia is considered a key market in these significant growth ambitions for the company.
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