Giant Singapore store a symbol of Uniqlo's push into Southeast Asia

Casual clothing chain Uniqlo is taking its biggest chance in Southeast Asia.

The unit of Fast Retailing Co. is opening a store on Singapore's ritzy Orchard Road that will have 2,700 sq. meters of shopping space on three floors. The store will be Uniqlo's largest in the region as the brand looks for growth outside Japan to revive flagging profits at its parent.

Fast Retailing is busy opening stores in the U.S., London and across Asia to help reduce its dependency on a home market where Japanese household spending is falling. Billionaire Chairman Tadashi Yanai wants to generate ¥5 trillion in sales by 2020 to keep Fast Retailing competitive with Hennes & Mauritz AB and Zara-owner Inditex SA.