Fast Retailing Co., operator of Japan’s leading casual wear brand Uniqlo, announced Thursday that the firm has exceeded 1 trillion sales for this business year. Thanks to its fast-growing international expansion, especially in Asia, net sales of 1.143 trillion yen has been set. It is also the first time that a Japanese clothing brand surpassed the 1 trillion yen mark.
“Our sales topped ¥1 trillion for the first time, and it was driven by expanding Uniqlo operations abroad,” said Uniqlo CEO and President Tadashi Yana during a news conference in Tokyo. The firm’s operating profit also hit 132.9 billion yen, an increase of 5.1 percent, while net profit boosted to 26.1 percent or 90.3 billion yen. Overseas sales of Uniqlo also climbed to 64 percent from last year to 251.1 billion yen this year. Yana also said that when it comes to sales, seven of their ten best leading stores are actually based outside of Japan.
In mainland China, 83 new outlets were opened while 27 more have been added in South Korea. They also started operating 20 new outlets in Taiwan while it opened its first store in Jakarta this year. By the end of August, Uniqlo already has 446 stores overseas, adding 154 outlets from the previous year. In Japan alone, there are about 800 outlets.
With more than 1,200 stores worldwide, Uniqlo is making its mark in the global retail market competing against Zara of Spain, H&M of Sweden, and Gap of the United States. Last month, the largest flagship store of Uniqlo was opened in Shanghai. Back in summer, the Fast Retailing subsidy made the announcement of opening 10 new stores in the U.S. this fall. It will also open its first store in Australia at the Emporium Melbourne, a commercial centre set to open early next year.