Uniqlo, The casual clothing retailer plans to double its number of stores in Southeast Asia and Oceania to about 400 by 2022. The emphasis is on standalone suburban stores meant to extend the brand’s reach beyond shopping malls.
The Japanese retailer aims to triple revenue generated in the region in the year ending August 2022. That would mark a faster rate of growth than for Uniqlo overall, which expects revenue to double over the same period. Standalone suburban locations were key to the chain’s growth in Japan. The brand has two stores in Thailand. More are planned for other Southeast Asian markets. The next promising countries are the Philippines and Malaysia. Besides Thailand, Uniqlo’s presence in the Asean region covers Australia, Indonesia, Malaysia, Singapore and the Philippines.
Uniqlo brand positions itself as Life Wear, as opposed to fast fashion, emphasizing functionality and lifestyle. Middle- and high-income Southeast Asian consumers are set to drive Uniqlo’s overall growth. Uniqlo plans to open stores in new markets, including Vietnam. It wants to have stores in all countries in the region, especially Vietnam, Laos and Myanmar. The company is also looking to expand online sales in Asia and beyond.
