Fast Retailing Co., operator of the rapidly growing Uniqlo chain of clothing stores, said Friday it will open its first overseas outlet in London in autumn 2001.
Fast Retailing, which is based in Yamaguchi, established a wholly owned subsidiary in the British capital June 1 to operate the new outlet.
The subsidiary has nominal capital of 2 pounds (about 320 yen), which will increase to 1 million pounds (about 162 million yen) in the near future, the company said.
The London store will sell T-shirts and other clothing made at Fast Retailing's plant in China.