Fast Retailing to open second Uniqlo store in Metro Manila

As part of its three-year, 50-store expansion plan in the Philippines, Japan’s Fast Retailing Co. on Wednesday said it is opening a second Uniqlo store in Metro Manila next month.   This development "shows the level of our confidence in the Philippine market," Katsumi Kubota, chief operating officer of Fast Retailing Philippines Inc., said in an e-mailed statement, noting the company also plans to expand outside the capital.   Because of the Philippines’ strategic location in the region, the company said it is treating its expansion as key to other markets in the Association of Southeast Asian Nations.   The second store would be in SM North Edsa’s The Block, the company said, noting it would open on Nov. 16.   Last June, Uniqlo opened its first store at Mall of Asia in Pasay City, its 12^th store outside Japan. The 1,550-square meter outlet had a paid-in capital of approximately P400 million or ¥720 million.   Uniqlo has outlets in the United States, United Kingdom, France, Russia, China, South Korea, Hong Kong and Taiwan.   Fast Retailing said global sales totaled ¥820 billion in fiscal year 2011 ending Aug. 31, 2011.   The company also designs, makes, and sells clothing under the brands Theory, Princesse tam.tam, and Comptoir des Cotonniers g.u. — VS, GMA News