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Uniqlo profits up 38 per cent, continues retail expansion globally

Uniqlo’s operating profits have steadily increased each year, with a reported growth in August this year of 38.1 per cent. The Japanese retailer is attempting to take over the European market. This Fall, it opened stores in Stockholm and Amsterdam and has announced more European stores next year, including Copenhagen and Milan.

Uniqlo wants to be known as an important and influential player in the fashion industry. It wants to be Japan’s answer to Zara or H&M. Meanwhile Uniqlo plans to double the number of stores in Southeast Asia and Oceania to about 400 by 2022. The emphasis is on standalone suburban stores meant to extend the brand's reach beyond shopping malls. Standalone suburban locations were key to the chain’s growth in Japan.

The Japanese retailer aims to triple revenue generated in the region in the year ending August 2022. That would mark a faster rate of growth than for Uniqlo overall, which expects revenue to double over the same period.

Besides Thailand, Uniqlo’s presence in the Asean region covers Australia, Indonesia, Malaysia, Singapore and the Philippines. For Uniqlo, the Indian market has the potential to become the next China -- Uniqlo's biggest market outside of Japan.

 

 
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