According to one of Fast Retailing’s (9983.T) executives, Uniqlo wants to grow its existing outlets in North America by 10%.
Uniqlo will launch six shops this summer, four in the United States and two in Canada, as part of its expansion ambition to reach more than 200 sites in North America by 2027. The corporation intends to open 20 to 30 locations yearly as part of the objective.
The stores in the United States will be placed in malls in two California locations, Maryland, and New Jersey, all of which are currently served by the brand.
The two Canadian stores, the first Uniqlo outlets in Ottawa and Calgary, are each 15,000 square feet (1,393.55 square meters).
Each new location will include self-checkout kiosks, in-store pickup, and free garment modifications.
Fast Retailing announced a 16.4% increase in first-half operating profit to 220 billion yen ($1.65 billion) earlier this month. In addition, the business boosted its full-year profit expectation from 350 billion yen ($2.63 billion) to 360 billion yen ($2.7 billion).
Uniqlo North America CEO Daisuke Tsukagoshi told Reuters in an email that the firm selected to open stores in Ottawa and Calgary due to a “strong online presence” in both cities.
The Tokyo-based business now has 47 outlets in the United States and 16 in Canada.
“We’re looking at existing markets with high customer demand, as well as new markets where we see opportunity,” Tsukagoshi added.
Tsukagoshi stated that localizing product offers in many of the United States has been “difficult” since buyers face diverse temperatures and experiences.
In the present economic climate, he believes Uniqlo is in a “unique position” to develop stores as customers trade down and resort to affordable prices for important trends.
Uniqlo has grown in popularity in the United States because of its low prices, which include women’s t-shirts for $14.90 and men’s zip-up coats for $39.90.
According to its website, Uniqlo operates 1,028 outlets in Greater China and 79 in Europe.
ForGap Inc (GPS.N) has almost 2,100 shops in the United States, including Old Navy and the Gap brand. However, by the end of 2023, the business intends to shutter around 350 Gap and Banana Republic sites.
According to the retailer’s website, H&M has more than 738 shops across North and South America as of February 2023.
