22 Oct '11, 4am

Uniqlo to set up regional HQ in Singapore

Japanese clothing retailer Uniqlo has big plans for expansion in Singapore, where it intends to set up its regional headquarters to oversee Malaysia, Thailand and the Philippines. Its plans are part of an ambitious regional expansion drive to increase sales in Asia to ¥2 trillion (s$33.3 billion) by 2020. The company, owned by Japan-listed group Fast Retailing, has its sights on the being the world's largest clothing retailer. Uniqlo said it plans to add between 200 and 300 stores within a year to its current 1,013 outlets, and will open new stores in South Korea next month and the Philippines next year. Speaking at a company showcase in Singapore, Uniqlo executives noted the potential for Asian growth, in light of the global economic crisis. Mr Naoki Otoma, managing director of Uniqlo Asia and Japan, said: "There is a crisis in Europe and Japan, but we think it is tempora...

Full article: http://www.todayonline.com/Business/Businessinbrief/EDC11...

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