Uniqlo sees U.S. as land of retailing opportunity
Uniqlo, the Japanese fashion retailer known for on-trend clothing at moderate prices, continues to succeed with its slow, but seeming inexorable, expansion across North America.
The chain currently has 39 stores in the U.S, primarily on the coasts, with plans to open new locations in Denver, Seattle and Tysons Corner, VA. Previously, Uniqlo announced plans to open new stores in Boston and Chicago as well as its first two Canadian stores in the Toronto area. The chain, which first opened a store in New York’s Soho neighborhood in 2006, also has an online presence at www.uniqlo.com/us.
"Having established a foothold in a number of key locations along the East and West Coasts, we are very pleased to announce our plans to continue to expand our national presence further in these new markets," said Larry Meyer, CEO of Uniqlo USA. "Our LifeWear is versatile, functional and stylish, and I’m confident it will continue to appeal to both an urban environment and an outdoor lifestyle. We have something for everyone to enjoy and feel comfortable wearing, regardless of season or personal style."
The new store in downtown Denver at 22,000 square feet is expected to be the largest of the three newest locations the chain has said it will open.
"It’s a big deal," Mary Beth Jenkins, a retail broker at The Laramie Co., told The Denver Post. "Any developer in Denver would want Uniqlo. They’re known for doing extraordinary sales per square foot."
Uniqlo’s parent company, Fast Retailing, reported the chain has exceed expectations in foreign markers, particularly in China and South Korea, although its U.S. performance, via The Seattle Times, "fell short of plan" in the most recent quarter with higher revenues, but lower profits than expected.
- Uniqlo Continues USA Expansion – Uniqlo
- Fashion retailer Uniqlo to bring pizzaz to Denver’s 16th Street Mall – The Denver Post
- Uniqlo to open Bellevue store in former JCPenney space – The Seattle Times
- Uniqlo announces its first move into Canada – RetailWire
Do you expect Uniqlo to be a major force in apparel retailing in the U.S.? If so, how long will it take? What are the keys to the chain’s future success or failure in the U.S.?