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JAPAN: Fast Retailing to launch its Uniqlo casual wear in Taiwan

Japan's largest clothing retailer Fast Retailing Co is scheduled to launch its casual wear brand Uniqlo in Taiwan this fall. Local fans looking for Uniqlo bargains — or those of Sweden's Zara and H&M or the US' Gap — have long had to venture outside of Taiwan to find such items.

The first Uniqlo outlet in Taipei could be located at Tonlin Plaza in eastern Taipei, the Chinese-language newspaper United Daily News reported. The space was previously occupied by Marks & Spencer — the British retailer which retreated from Taiwan in 2008 after 18 months of sluggish sales performance.

The Uniqlo space at Tonlin would occupy at least 500 pings (1,650m²), the report said.

Fast Retailing said it would invest almost US$4.7 million to establish a Taiwanese subsidiary next month to develop a network of Uniqlo stores here, including one in Taipei that will be open by this fall, Kyodo News reported.

Fast Retailing has more than 800 stores across the globe, with Uniqlo outlets in China, Hong Kong, the US, France and elsewhere. It is planning to expand into India, Australia and Thailand.

Fast Retailing began recruiting personnel from local universities last year. Employees in managerial positions are receiving salaries starting at NT$60,000 (US$1,818), and they are currently undergoing training at the Tokyo headquarters, the United Daily said.

H&M will reportedly launch in Taiwan sometime this year as well.

About Fast Retailing Co
Fast Retailing Co., Ltd. is a Japanese retail holding company founded in 1963. In addition to its primary subsidiary Uniqlo, it owns several other brands, including Aspesi, Comptoir des Cotonniers, Foot Park, g.u., Princess Tam-Tam and National Standard.

The company is also affiliated with the American-Japanese clothing brand Theory through the acquisition of "an equity stake in Link Theory Holdings Co Ltd, the marketer of the Theory and Helmut Lang apparel brands, in 2004".

In 2007, Fast Retailing unsuccessfully offered a bid of $900 million for Barneys New York department store to the Jones Apparel Group.

Source: Agencies • News Courtesy: BharatTextile.com