Uniqlo to Open 10 Stores in Indonesia
24 June 2013 23:48 WIB
TEMPO.CO, Jakarta - Japanese garment manufacturer Uniqlo finally opened its first Indonesian outlet at the Lotte Shopping Avenue in South Jakarta last Saturday, June 22.
In Indonesia, the Uniqlo brand will be a joint venture between Fast Retailing Indonesia and the Mitsubishi Corporation with an investment value of Rp104 billion (around US$10,469,886). Fast Retailing and Mitsubishi Corp will each hold a 75 percent and 25 percent stake in the joint venture.
Fast Retailing CEO Tadashi Yanai said that Uniqlo is the fourth-largest fashion brand worldwide following Zara, H&M, and GAP. Yanai has successfully opened 1,200 stores worldwide in over 29 years after the establishment of Fast Retailing and Uniqlo.
"As the most populous nation in Southeast Asia, and with a strong and growing economy, Indonesia is a key market. With the opening of our first store, we aim to speed up our expansion in Southeast Asia," said Yanai.
Fast Retailing Indonesia chief operating officer Yasuhiro Hayashi revealed Uniqlo plans to open 10 outlets in Indonesia.
"But for now, we will concentrate on the first store," he said.
PINGIT ARIA
