Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Business / Retail Tools: Save | Print | E-mail | Most Read | Comment
Clothing retailer plans 200 outlets
Adjust font size:

Fast Retailing Co plans to operate 200 Uniqlo stores on the Chinese mainland and Hong Kong within five years as the region is set to overtake Japan as its largest sales generator by 2017.


About 80 percent of the stores will be in the mainland, Senior Vice President Tiger Pan Ning said, according to a Bloomberg News report yesterday. Fast Retailing, Asia's biggest clothing retailer, has five stores in Hong Kong and 10 in the mainland.


The casual clothing chain is tapping the world's fastest growing major economy as sales stall in its home market, which accounts for about 90 percent of total revenue. Fast Retailing's sales from the Chinese mainland and Hong Kong will double every year to about seven billion yuan (US$939 million) by 2012, Pan said.


"Sales growth in Japan is very limited as the population is shrinking," Pan, also the managing director of the Uniqlo Hong Kong unit, said last week. "The group is shifting focus to Asia, especially to China, as the booming middle class is driving up spending."


China's retail sales and economy have grown at more than 10 percent since March 2006, with the world's most populous nation expected to overtake Germany as the world's third-biggest economy this year. Japan's retail sales increased 0.5 percent in August and September from a year earlier.


Fast Retailing is following other retailers such as Wal-Mart Stores Inc, Carrefour SA and Japan's Aeon Co in seeking to boost revenue by expanding in China.


Wal-Mart, the world's biggest retailer, aims to more than double its 84 stores in China during the next five years. Carrefour, Europe's largest, aims to add 25 outlets a year from a present total of about 100.


Aeon, Japan's second-biggest retailer, plans to invest up to 15 billion yuan to establish 100 outlets in China by 2012.


(Shanghai Daily November 6, 2007)

Tools: Save | Print | E-mail | Most Read

Username   Password   Anonymous
China Archives
Related >>
Most Viewed >>
-China set to hit the brakes on rising yuan
-Power to resume shortly in worst-hit area by snow
-Macao's gaming market expands further
-Online operators are on top of the game
-Insurance firms set to stump up billions

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright © All Rights Reserved E-mail: Tel: 86-10-88828000 京ICP证 040089号