Business / Corporate

Fast Retailing may bring Uniqlo to Belgium as it eyes further opportunities to for overseas expansion

Kyodo

Fast Retailing Co. is considering launching Uniqlo in Belgium as it pursues further opportunities overseas, company sources said.

Uniqlo stores already exist in Britain, France and Germany. Fast Retailing is considering adding Belgium to the list because of its high per capita income, the sources said Monday.

There is no date set for a potential launch, but the company is examining possible locations in both Brussels and Antwerp, the sources said.

As of late May, Fast Retailing’s European portfolio comprised 10 Uniqlo stores in Britain, six in France and one in Germany, tapping a growing demand for low-cost, quality products at a time of concern that Europe may be heading for a period of deflation.

Fast Retailing operates about 600 Uniqlo stores overseas in 15 nations, including China, South Korea and Taiwan. Uniqlo’s overseas sales for the past business year through August are an estimated ¥400 billion, about 30 percent of its total sales.

The retail giant also plans to strengthen its business in the United States and open dozens of new stores there, raising the total to 100 over the course of the next few years. It operated 26 there as of late August.

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