Uniqlo set on world domination

Japanese fashion retailer Uniqlo is in the midst of an aggressive expansion plan. Having opened a mega-store in New York only last month, the company is set to open a 25,000 square foot store in Shanghai this weekend. Having opened its first shop in Hiroshima in 1984, the chain now has 630 stores across Japan and is expanding its international presence. Last year, it opened eight stores in Seoul and Hong Kong and three stores in New Jersey . The company currently counts eight stores in the UK .

“It's the fastest and most certain way to become a global brand,” chairman, president and chief executive of the brand's parent company, Fast Retailing, told WWD. The following openings are planned for Paris next year and Milan after that. “Last year we opened flagships in Tokyo 's Ginza (district) and Hong Kong and gained confidence in this strategy.” Its previous strategy had been to open smaller stores in individual markets. However, this has not always proved successful, most notably in the UK, where the company had to reduce its number of stores in small cities in favour of ones in London.

www.uniqlo.co.uk
8 December 2006

Uniqlo to open in New York

Japanese retailer Uniqlo, a subsidiary of Fast Retailing, is to open a store in New York's Soho district. The company is in talks to rent a location on Broadway, between Spring Street and Prince Street, close to stores like Prada. Uniqlo said its US outlet would focus on its high-quality, low-price strategy for the Amercian consumer.

The retailer, which offers Gap-like casuals, denim, outerwear and cashmere sweaters for less, first entered the US market in September last year with a store in New Jersey. It has since opened two more shops in New Jersey malls.

Uniqlo has close to 680 locations in Japan and generated over $3 billion in sales last year.

www.uniqlo.co.uk
14 February 2006

16 Uniqlos-stores to close

Fast Retailing Co has announced plans to close nearly all of its UK Uniqlo stores. Sales for the brand - both here and in native Japan - have been sliding dramatically. The Tokyo-based company said it will close 16 of its 21 UK outlets before the end of August 2003 and book a three billion yen extraordinary loss to pay for the closures.

Five stores have survived the initial cutback, all of which are in London. Three Uniqlo stores in Shanghai, in China, will also be closed. The move comes amid slumping same-store sales at its 574 Uniqlo outlets in Japan. Fast Retailing opened its first UK store in September 2001 and said it hopes the closures will return its British unit to profitability in the financial year ending May 2004.

March 8, 2003
www.uniqlo.co.uk

Fast Retailing hit by 46% profit slump

Japanese retail giant Fast Retailing suffered a dramatic plunge in full-year net profit as sales continue to drop for Uniqlo. In the year ended 31 August 2002, net profit declined by 46.8 per cent to JPY 31.5 billion (GBP 160 million). Turnover fell by 18.4 per cent to JPY 341.6bn in the year.

Chief Executive, Masatoshi Morita said the company is aware that "there is work to be done".

The company, which launched into the U.K. market on 28th September 2001, recorded sales of GBP 14 million to May 2002, its first seven months of trading. An operating loss of GBP 20 million was also registered following heavy investments. Uniqlo also announced the appointment of Bernie Foster as new Chief Operating Officer for Fast Retailing (U.K.). Joining the company in November, Foster will work alongside Chief Executive, Masatoshi Morita.

Earlier this month, Fast Retailing reported a 24.3 per cent year-on-year plunge in September same-store sales - its 12th consecutive monthly sales fall. The company's founder and president, Tadashi Yanai, will step down next month in a management reshuffle but remain as chairman, with managing director Genichi Tamatsuka taking up the role of president.

The Uniqlo brand reached a high in 2000, but has been struggling with declining sales since rival companies started to ape the company's "cheap chic" concept. Fast Retailing operates 559 stores in Japan, China and the UK. The company opened its first Chinese stores last month.

www.uniqlo.co.uk
October 19, 2002

Uniqlo grows in UK, startup in China

Uniqlo's UK boss, Masatoshi Morita, said the firm is prepared to open up to 300 stores across Britain depending on its success. Separately the Japanese casual wear giant Fast Retailing Co Ltd unveiled its latest move to halt sliding sales and profits by opening its first Uniqlo stores in China.

Uniqlo currently has around a dozen stores in the UK but plans to open 50 more across the country by 2004. "If we are very successful, we will probably risk opening 200 stores," Morita said. He added that number could even grow to 300 but admitted the firm had experienced problems adjusting to the different shape of the UK woman.

The new discount fashion stores in China opened to large crowds in Shanghai, which lies 150 miles from the apparel factories that produce 90 per cent of its garments for sale in Japan.
The company said it has identified huge growth potential in China and will open more lots of other stores in the future although it did not reveal the exact number or its timetable.

www.uniqlo.co.uk
October 3, 2002

Uniqlo speeds up UK expansion

Before this year ends Fast Retailing UK will live up to its name and will have drastically expanded its Uniqlo casual wear chain. The group expects to open six more stores in Basingstroke, Brighton, Coventry and Watford. By 2004 it anticipates to trade from a total of 50 stores. Yamaguchi-based Fast Retailing, which has generated sales of approx. GBP 16 million (25.3 million euro) in the UK since launching the Uniqlo brand in autumn 2001, now operates 15 stores in the UK.

The group has now named former managing director and CFO of Fast Retailing Masatoshi Morita as new CEO of its British subsidiary Fast Retailing Ltd. as part of its UK expansion plan. Morita replaces Genichi Tamatsuka, who will take over from company founder and president Tadashi Yanai in November.

20-09-02
www.uniqlo.co.uk

UNIQLO BEGINS NATIONAL ROLL-OUT OF QUALITY BASICS FOR ALL
10 new store openings planned for Spring 2002

UNIQLO, the clothes store from Japan, announces plans for its U.K. roll out with 10 new store openings scheduled for the first half of 2002. The spring expansion programme sees UNIQLO establishing a national presence in the U.K. with further store openings in the South East, followed by a move to the Midland and North West regions.

The first new stores planned for 2002 open in the South East. Stores in Staines and Richmond are scheduled to open in March, a further central London flagship store is also planned to open later in the season.

UNIQLO's national roll out commences with three store openings in the Midlands area with stores in Solihull, Merryhill and Leicester scheduled for late March. The Midland store openings are followed by a move to the North West with stores in central Manchester and suburban Liverpool opening in late April followed by stores in suburban Manchester and Chester in mid May.

Gen Tamatsuka, Chief Executive of UNIQLO in the UK, says:
'The reception to our existing London stores has exceeded our expectations and feedback from customers on our product quality, price and service has been very positive. The Christmas trading period and has given us a clear indication that there is a place for UNIQLO product in the market.

With the planned new UNIQLO stores, we are pleased to rapidly roll out UNIQLO's basic quality clothing to customers in the Midlands and North West and take our next step in establishing a chain of 50 stores within three years.'

The design of UNIQLO's new stores is based on the company's existing Conran and Partners designed London stores, which launched in September 2001 and give customers a clean, simple and accessible retail environment. The utilitarian design features innovative features such as unique flooring made of tiny pebbles set in resin, industrial-style lighting, stripped away ceilings and floor to ceiling shelving. The minimal design ensures that UNIQLO's colourful product is the key message.

The new stores will stock UNIQLO's range of casual basics in a wide variety of colours. The product range includes T-shirts at £5, Oxford shirts at £15, boot cut and classic fit jeans at £20 and children's items including jeans at £12 and T-shirts at £5 and rugby shirts at £9. The range will be offered alongside exceptional levels of customer service by thoroughly trained staff, including a free alterations service for trousers.

UNIQLO maintains quality as a priority and controls all aspects of its business, including fabric weaving, dyeing, spinning, product design, manufacture, marketing, distribution and retail. By managing all facets of its business UNIQLO is able to provide a wide range of simple, functional, well-made casual clothing at highly competitive prices for men, women and children.

UNIQLO is Listed on the Tokyo Stock Exchange, Fast Retailing Co., Ltd. has been one of the best performing Japanese retailers with a turnover of £2.4 billion and net profit of £341 million from September till August 2001. The company currently has over 550 UNIQLO stores in Japan, with over 20,000 employees. The company is listed on the First Section of the Tokyo Stock Exchange. New appointments Tim Morris joins UNIQLO as Property Director following previous roles as Director of Store Development at Starbucks and Head of Property at Arcadia. Tony Bennett joins as Director of Finance following previous positions as Head of Finance at The Gap and Financial Planning Manager at Selfridges.

January 8th, 2002
www.uniqlo.co.uk