TOKYO - JAPANESE casual clothing chain Uniqlo will open its first store in Singapore in April, operator Fast Retailing said on Friday.
Japan's Uniqlo bucks economic gloom with rising profits
TOKYO - UNIQLO, the no-frills Japanese clothing retailer that flourished during the 1990s recession, on Friday bucked the global economic downturn with a surge in quarterly profits.
Fast Retailing, the operator of the fast-expanding chain, said it was on course for higher annual profits as cost-conscious shoppers seek out bargains during the economic crisis.
A first Uniqlo store will open on April 9 in the 'Tampines 1' shopping mall, which is currently under construction, followed by another shop in the ION Orchard mall in early June.
'Singapore will be a strategic move for us to expand in the Southeast Asian market, as part of our global strategies,' Fast Retailing said.
In addition to 746 stores in Japan, the Uniqlo brand has 66 overseas stores in Britain, China, France, Hong Kong and the United States.
The company is also planning to open stores in Russia and India in the near future.
Uniqlo flourished during Japan's 1990s recessions by selling cheap but good quality clothing, mainly manufactured in China. -- AFP
