Gap-like Japanese Retailer Plans Hundreds of US Stores
Uniqlo">Uniqlo's New York outlet is company's most successful worldwide
October 25, 2011
The success of its first New York store has prompted Japanese retailer, Uniqlo">Uniqlo, to move forward with plans to open hundreds of US outlets.
As the U.S. economy continues to struggle, Gap, one of the largest U.S. clothing retailers, will soon close 20 percent of its stores. Meanwhile, a major Japanese clothing retailer - with merchandise very similar to Gap's - is heading in the opposite direction. Instead of being deterred by the grim economic outlook,
Uniqlo
plans to open hundreds of stores in the United States
.
Uniqlo has been selling reasonably priced, casual clothing in Japan since the 1980s, but sales have been flat recently. So the company is looking overseas for growth. Most of its new stores are opening in Asia, but the United States plays a big role in its expansion strategy.
Uniqlo opened its first U.S. stores in New Jersey shopping malls in 2005, but they didn’t do well and closed within a year. The CEO of Uniqlo USA says the company moved too fast and that Americans were unfamiliar with their brands then.
Uniqlo now has three stores in New York.
Shin Odake believes the company's vast new flagship store on New York City’s fashionable 5th Avenue should change that. "If you are to be recognized as a global brand, we need to have a huge store in the center of New York City."
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