UNIQLO Marches Into The European Market And Chooses Belgium

Asia's largest clothing retailer Fast Retailing Co. Ltd. (9983.T) Xun group announced today that its Uniqlo UNIQLO brand is about to enter fifth European markets in October 2nd.

Antwerp opens a flagship store with an area of 1320 square meters.

At the beginning of this month, Takao Kuwahara, who was promoted to Europe as chief executive officer of Uniqlo UNIQLO and senior vice president of Fast Retailing Co. Ltd. fast marketing group, pointed out in the announcement that the first one in Antwerp

UNIQLO branch marks the beginning of the expansion of the brand to the Benelux region.

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Uniqlo UNIQLO currently has 10 stores in the United Kingdom, 8 in France and Russia. In April last year, the brand entered the German market for the first time and opened in Berlin.

This autumn brand plan has added 1 stores in Berlin and southern France, bringing the total number of European stores to 29.

It is reported that Fast Retailing will also open stores for Uniqlo UNIQLO in other major European cities, such as Milan and Barcelona.

Yukihiro Katsuta, head of global development and research at Uniqlo UNIQLO, told Reuters that the group hoped that Uniqlo UNIQLO's development in the European market could be similar to that in the US market, but Uniqlo UNIQLO's US business is still at a loss.

After losing the British market in 2001, Uniqlo UNIQLO's new round of expansion in the European market of the biggest competitors Zara and H&M base is cautious and slow. At present, European business covers only four countries including Britain, France, Russia and Germany. In the last three quarters, it was affected by the renovation of flagship store in London's Oxford street. The European business profit of Uniqlo UNIQLO declined, but the accumulated income and profit in the first three quarters still increased.

Uniqlo UNIQLO reached the euro market revenue of 203 million euros in the first 131% months of December, up 131% from the previous fiscal year. It benefited mainly from the opening of Berlin, Paris stores and the British and French businesses. The Sunday Times quoted the Companies House Office of the UK as the 2015 financial year (unlike the group's fiscal year). The European business of Uniqlo UNIQLO realized profitability before the tax, turning 2 million 200 thousand euros from 3 million 400 thousand euros in the same period last year.

Berndt Hauptkorn, the former European CEO who led Uniqlo UNIQLO to expand Europe in June 2012, has left the company to join the Chanel industry. Chanel has confirmed that she will be the president of Europe and the Middle East to replace the retiring Didier Sabas.

Fast Retailing Co. Ltd. (9983.T) on Wednesday followed Japan's stock market up 10.08% to 49725 yen.