Fast Retailing to open 100 China stores

Business | 15 Oct 2018 6:07 pm

Fast Retailing (6288), Uniqlo’s parent company, said it will open 100 new stores in China.

Fast Retailing group executive vice president Pan Ning said one-third of the new stores will be in Beijing, Shanghai, Guangzhou, and Shenzhen, while the remainder will be in second- or third-tier cities.

In response to US tariffs, he said, sourcing will be shifted from China to Southeast Asia, though the bulk of manufacturing will still be in China.

Meanwhile, the company said that the 70-year-old chairman Tadashi Yanai has not yet decided to retire.

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