First Uniqlo store in Vietnam to open next month
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The first store of Japanese casual wear retailer Uniqlo will open December 6 in Ho Chi Minh City’s District 1, the company said in a statement.
The 3,000 square meter store, one of its biggest in Southeast Asia, will be located at the Parkson Saigon Tourist Plaza on Dong Khoi Road.
Uniqlo started listing products for men, women and children on its Vietnamese website last month.
Also last month, it began recruiting salesclerks in Hanoi, after establishing its Vietnam business with a charter capital of $8.8 million. Apparel company Fast Retailing Singapore owns a 75 percent stake and Japan’s Mitsubishi Corporation the rest.
The brand had 213 stores in the Southeast Asia as of last year and plans to have 400 by 2022. Globally, it now has over 2,200 stores in 24 countries and territories.
Vietnam’s fashion market is estimated to grow to over $3.8 billion this year and over $5 billion by 2021, according to BMI Research.
Questions & Answers
Q.What is the expected size of Vietnam's fashion market in the coming years?
What is the expected size of Vietnam's fashion market in the coming years?
Vietnam's fashion market is predicted to reach over $3.8 billion this year. It is then expected to grow to over $5 billion by 2021, according to BMI Research estimates.
Q.Who owns the Uniqlo business in Vietnam?
Who owns the Uniqlo business in Vietnam?
Apparel company Fast Retailing Singapore holds a 75 percent stake in the Vietnam business. The remaining share is owned by Japan’s Mitsubishi Corporation.
Q.What are Uniqlo's expansion plans for Southeast Asia?
What are Uniqlo's expansion plans for Southeast Asia?
Uniqlo had 213 stores in Southeast Asia as of last year. The company aims to increase this number significantly, planning to have 400 stores in the region by 2022.