Japanese fashion company UNIQLO plans to double its expansion efforts in the US and Canada, with over 20 new Uniqlo stores set to open in 2024.
This ambitious move follows a remarkable fiscal year 2023, during which Fast Retailing reported a record annual profit.
Figure: Japanese fashion company UNIQLO plans to double its expansion efforts in the US and Canada, with over 20 new Uniqlo stores.
Uniqlo entered the US market in 2005, aims to reach 200 stores in North America by 2027, and anticipates double-digit sales growth in its existing regional stores.
Currently boasting over 2,400 stores globally, including 53 in the US and 19 in Canada, Uniqlo’s new US locations will be in Washington, Massachusetts, Rhode Island, and New York, while the Canadian expansion will include Toronto, Calgary, and Ottawa.
The financial year ending August 31, 2023, witnessed substantial growth in North America, with international revenue surpassing 50% of the company’s total revenue for the first time.
Uniqlo’s North America CEO Daisuke Tsykagoshi said, “We couldn’t be more excited to enter the next phase of our North American expansion plan and serve more customers in the US and Canada. Stores are the heartbeat of our business, where we can engage with our local communities, hear directly from our customers, and best understand their needs to continue to improve and perfect our products. We’re looking forward to a big year ahead.”
Uniqlo cited recent success with its popular mini shoulder bag and recent designer collaborations, including tie-ins with Anya Hindmarch, Mame Kurogouchi and JW Anderson, as it announced the expansion in the US and Canada.
