Uniqlo, the globally recognized Japanese clothing brand, is gearing up for a significant transformation at its Mira Place location, as it embarks on an ambitious expansion project. The store, which first opened its doors in 2005, is set to double its footprint to an impressive 2,500 square meters, with the grand reopening slated for October 17, according to reports from the South China Morning Post.
This revamped store will hold the title of Uniqlo’s largest outlet in the Kowloon area, reflecting the brand’s commitment to meeting customer needs in Hong Kong. Last November, the retailer similarly redesigned its City Plaza store in Taikoo Shing, expanding across multiple floors, a testament to its evolution in retail strategy.
Tomoyuki Ota, the chief operating officer for Uniqlo in Hong Kong and Macau, highlighted the brand’s focus on understanding what customers genuinely desire rather than merely increasing the number of stores. “The most important thing is what the customer needs and not just the number of stores,” said Ota. This philosophy drives the updates and renovations across its locations.
While Uniqlo is enhancing its existing stores in Hong Kong, it is also setting its sights on a bold strategy in India, aiming to more than double its current store count over the next three years. The company marked its foray into southern India with a new store that opened earlier this month.
“In the first four years, we focused on north India—that is why our expansion was so fast,” said Kenji Inoue, Uniqlo’s chief financial officer and chief operating officer. “But now we are entering the southern market, which will accelerate our growth going forward.” Since making its debut in India in 2019 with a store in New Delhi, Uniqlo has grown to 16 locations across the country.
Parent company Fast Retailing reported an 8.4% rise in profit to JPY339 billion (US$2.3 billion) for the nine months ending in May, with Uniqlo International, which includes Hong Kong and other markets, reflecting a robust 12.7% revenue growth to JPY1.45 trillion. However, the company cautioned in July that higher tariffs in the U.S. would impact its operations as the year progresses, especially given that most of Uniqlo’s products sold stateside are manufactured in Southeast Asia and South Asia.
From its modest beginnings as a single store in Hiroshima 40 years ago, Uniqlo has blossomed into a retail powerhouse with over 2,500 stores worldwide. The brand sells a range of popular products, including affordable fleeces and cotton shirts primarily sourced from China and other Asian manufacturing hubs. As it looks to the future, Uniqlo is also concentrating on expansion in North America and Europe, shifting its focus amid a slowing Chinese economy—the brand’s largest market, where it operates more than 900 stores.
What is unique about Uniqlo’s expansion strategy in Hong Kong?
Uniqlo is focusing on renovating existing locations like its Mira Place store to better cater to customer needs, rather than simply increasing the number of stores in the area.
How many Uniqlo stores are currently operating in India?
As of now, Uniqlo has expanded to 16 stores in India since its entry into the market in 2019.
What financial performance did Fast Retailing report recently?
Fast Retailing posted an 8.4% increase in profit to JPY339 billion (US$2.3 billion) in the nine months ending in May, with Uniqlo International achieving a notable revenue growth of 12.7% during the same period.
