Jun 23, 2011
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Japan's Fast Retailing plans Thai stores, global top spot

Jun 23, 2011

June 23 - Japan's Fast Retailing Co said on Thursday it would open its first three Uniqlo stores in Thailand this year as part of an aggressive expansion in the fast-growing Southeast Asian region.

Fast Retailing
Customers look at clothes in a Uniqlo store in Tokyo. Uniqlo is owned by Fast Retailing. (Photo: Corbis)

It also aimed to be the world's largest apparel group by 2020, when it targeted sales of 5 trillion yen ($62 billion), Fast Retailing said in a statement.

The first Thai store will be opened in September and the company planned to open 200 branches in Asia every year, it said.

In Southeast Asia, the company already has operations in Singapore and Malaysia.

Fast Retailing, operator of the Uniqlo clothing chain, is Asia's biggest clothing retailer. It competes with rivals including Spain's Inditex SA , Sweden's Hennes & Mauritz AB and U.S.-based Gap Inc .

Globally, 'fast-fashion' retailers are aggressively expanding their presence as consumers shun high-priced, luxury clothing in favour of cheaper options.

(Reporting by Ploy Ten Kate; Editing by Alan Raybould)

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