Uniqlo to have six stores in PHL by 2013

There will be six outlets of the clothing store Uniqlo in the Philippines by August 2013, global Japanese retail firm Fast Retailing Co. said Wednesday. According to Fast Retailing Philippines chief operating officer Katsumi Kubota in a press briefing at SM North Edsa, Uniqlo's continuous expansion is an affirmation of the firm's confidence in the Philippine market. He said the next expansions will have an average $1-million investment. "We are right in our decision to come to the Philippines, which serves as the opening windows for Uniqlo in the ASEAN region," Kubota said. Uniqlo will open its second outlet in Metro Manila on the second floor of SM North Edsa on Nov. 16. It will have 78 regular store associates, 42 seasonal associates and two store managers. Kubota did not identify the next possible sites for expansion, but said these will be in Metro Manila. "We must have a very solid fundamentals in Metro Manila first before we expand in the provinces,' he said. Kubota said sales of the first outlet at SM Mall of Asia recorded a 120-percent increase over their projected monthly target. He did not mention the sales value. "We are happy with the results, which surpassed our expectations," he said. "We feel the acceptance of Filipinos for our products and we are happy to be here." According to Kubota, Uniqlo's best sellers are jeans, T-shirts, and polo shirts. Although he did not divulge the amount, he said men's and women's wear had almost the equal value of sales. Kubota said Fast Retailing considers Cebu, Davao, and Cagayan de Oro as potential sites for provincial expansions. He said the ambitious 50-store expansion in the Philippines within the next three years is achievable. Uniqlo's first Philippine outlet, at the SM Mall of Asia, is located in a 1,550-square meter area and had a paid-in capital of approximately P400 million, or 720 million yen. It is Uniqlo's 12th store established outside Japan.   Uniqlo’s global expansion started in 2001 in London, and now includes stores in the United States, France, Russia, China, South Korea, Hong Kong and Taiwan. With global sales of 820 billion yen for the 2011 fiscal year ending Aug. 31, 2011, Fast Retailing is the world’s fourth largest apparel retail company and its brand Uniqlo is Japan’s leading specialty retailer. — BM, GMA News