Fast Retailing gains ground overseas

Uniqlo sister brand GU is to expand into Taiwan, opening two stores in Taipei in the coming months.

Taiwan will be GU’s second overseas market, having opened in Shanghai, China last year.

GU CEO Osamu Yunoki said while the Japanese market remains important, the overseas market presents great opportunities. GU’s Taiwan expansion is part of Fast Retailing’s goal to become the world’s largest apparel retailer by 2020.

Meanwhile, Uniqlo is set to open its new store in Sydney, located at the heart of Pitt Street Mall – Sydney’s most popular shopping and fashion precinct.

Uniqlo’s Sydney store will be a premium large scale outlet with a sales floor of nearly 1485sqm and offering a wide range of men’s, women’s, kids and baby clothes.

CEO of Uniqlo Australia Shoichi Miyasaka said Australia is a key market. “Australians have really embraced Uniqlo and its ‘LifeWear’ philosophy, both in Melbourne and through the online store. Opening in Sydney is the next logical expansion.”