Japanese retailer Fast Retailing may have to inject new capital into UNIQLO Australia to fund the next phase of growth as the casual clothing chain expands into new states and suburban markets, increasing pressure on department stores and specialty retailers.
UNIQLO, which opened its first store in Australia a year ago, wants to become the market leader in casual wear by 2020, overtaking established brands such as Just Jeans, Sussan and General Pants, as part of its parent’s goal to become the world’s leading clothing company.
UNIQLO’s founder, Fast Retailing president Tadashi Yanai, plans to open 200 new stores worldwide this year and Australia figures prominently in his growth ambitions.
