Uniqlo to quadruple SE Asia retail store network
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Japanese casual wear retailer Uniqlo plans a four-fold increase in its Southeast Asian store count during the next decade.
Tadashi Yanai, chairman, and CEO of the firm’s parent company Fast Retailing said in an interview with Nikkei that Uniqlo is seeking a much faster rate of expansion than it took to build its 800-strong network of stores in greater China.
“Asia, from China to India with 4 billion people, is the world’s only region that is showing steady growth,” said Yanai.
He said that for the time being, Cambodia, Laos, and Myanmar are not being considered as potential markets for the brand because there are too many opportunities outside those countries.
Next month the Japanese retailer will open its first store in Vietnam. Located in Ho Chi Minh City, the store will be its largest in Southeast Asia and located across the road from Zara’s two-year-old Vietnam flagship and a rival H&M’s store.
Uniqlo operates around 2200 outlets internationally.
Questions & Answers
Q.Which Southeast Asian countries are currently not being considered for Uniqlo expansion?
Which Southeast Asian countries are currently not being considered for Uniqlo expansion?
Cambodia, Laos, and Myanmar are not currently being considered for new stores. This is because the company believes there are sufficient expansion opportunities in other markets within the region for the time being.
Q.How does Uniqlo's planned expansion rate in Southeast Asia compare to its past growth in Greater China?
How does Uniqlo's planned expansion rate in Southeast Asia compare to its past growth in Greater China?
Uniqlo is aiming for a significantly faster expansion rate in Southeast Asia compared to the time it took to establish its 800-store network in Greater China. This indicates an accelerated growth strategy for the new region.
Q.Where will Uniqlo's first store in Vietnam be located, and what is its significance?
Where will Uniqlo's first store in Vietnam be located, and what is its significance?
The first Uniqlo store in Vietnam will open next month in Ho Chi Minh City. It will be the largest Uniqlo store in Southeast Asia, positioned directly opposite rival brands Zara and H&M.
Q.What is the primary reason given by Uniqlo's CEO for focusing expansion on Asia?
What is the primary reason given by Uniqlo's CEO for focusing expansion on Asia?
Tadashi Yanai stated that Asia, encompassing the region from China to India with four billion people, is the only part of the world currently demonstrating steady economic growth. This makes it a key target for expansion.
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