Japanese casual wear retailer Uniqlo plans a four-fold increase in its Southeast Asian store count during the next decade.
Tadashi Yanai, chairman, and CEO of the firm’s parent company Fast Retailing said in an interview with Nikkei that Uniqlo is seeking a much faster rate of expansion than it took to build its 800-strong network of stores in greater China.
“Asia, from China to India with 4 billion people, is the world’s only region that is showing steady growth,” said Yanai.
He said that for the time being, Cambodia, Laos, and Myanmar are not being considered as potential markets for the brand because there are too many opportunities outside those countries.
Next month the Japanese retailer will open its first store in Vietnam. Located in Ho Chi Minh City, the store will be its largest in Southeast Asia and located across the road from Zara’s two-year-old Vietnam flagship and a rival H&M’s store.
Uniqlo operates around 2200 outlets internationally.