Japanese apparel chain Uniqlo to open 1st Vietnamese outlet this year
HO CHI MINH CITY, NNA - Japanese casual clothing store chain Uniqlo Co. will open its first Vietnamese outlet this year to continue an expansion into Southeast Asia, where consumption is on growing.
The store named “Uniqlo Dong Khoi” will be located at the trendy Parkson Saigon Tourist Plaza mall in Vietnam’s financial center Ho Chi Minh City, subsidiary Uniqlo Vietnam Co. said in a news release last week.
When Uniqlo announced plans last year to establish the Vietnamese outlet, Chairman and CEO Tadashi Yanai said the Southeast Asian region “has been an important driver of growth for us” and that Vietnam is an “exciting economy and retail market.”
The store will have a total retail floor area of 3,000 square meters and occupy three levels, a spokesperson for the subsidiary said. The location puts it next two landmark shopping malls in a touristy part of the city. It will sell a full complement of men’s, women’s and kids’ wear, the statement said. It has not announced an exact opening date.
Uniqlo Vietnam is a joint venture. Fast Retailing (Singapore) Pte. Ltd., a Singapore-based subsidiary of Uniqlo’s parent company Fast Retailing Co., owns 75 percent and Japanese trading house Mitsubishi Corp. owns the rest. Uniqlo and Mitsubishi set up separate joint ventures in Thailand in 2011, Indonesia in 2013 and Russia in 2017.