Uniqlo to open in Vietnam next year
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Uniqlo Vietnam will launch next year.
The Japanese fast-fashion brand says it will open its first store in Ho Chi Minh City in the second quarter of next year, with the exact location to be advised later.
The Uniqlo Vietnam launch announcement follows successful debuts in the fast-growing market by archrivals H&M from Sweden and Spanish-headquartered Zara during the last two years.
“Our entry into Vietnam is an exciting milestone for everyone at Uniqlo,” said Tadashi Yanai, chairman, president and CEO of Uniqlo’s parent Fast Retailing.
“The Southeast Asia region has been an important driver of growth for us, and we are pleased and optimistic about our opportunity to be a part of such an exciting economy and retail market,” he said
Uniqlo will begin recruiting local talent soon in preparation for the opening of its first store.
Uniqlo Vietnam will be a joint venture 75 per cent owned by its Singapore subsidiary and 25 per cent by Mitsubishi Corporation, with no local shareholding.
With the first Uniqlo Vietnam store located in Ho Chi Minh City, the company says it will focus on establishing its presence and brand awareness there before considering other cities.
Questions & Answers
Q.When is Uniqlo planning to open its first store in Vietnam?
When is Uniqlo planning to open its first store in Vietnam?
Uniqlo Vietnam is set to launch next year. The company will open its first store in Ho Chi Minh City during the second quarter of next year, with the precise location to be announced later.
Q.Which other international fashion brands have recently entered the Vietnamese market?
Which other international fashion brands have recently entered the Vietnamese market?
Archrivals H&M from Sweden and Spanish-headquartered Zara have successfully launched in the fast-growing Vietnamese market during the last two years, preceding Uniqlo's entry.
Q.How is Uniqlo Vietnam structured in terms of ownership?
How is Uniqlo Vietnam structured in terms of ownership?
Uniqlo Vietnam will operate as a joint venture. It will be 75 per cent owned by Uniqlo's Singapore subsidiary and 25 per cent by Mitsubishi Corporation, with no local shareholding.
Q.Will Uniqlo expand to other cities in Vietnam after its initial launch?
Will Uniqlo expand to other cities in Vietnam after its initial launch?
Initially, Uniqlo will concentrate on establishing its presence and brand awareness in Ho Chi Minh City, where its first store will be located. Expansion to other cities will be considered later.
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