By PNA and U.S. News Agency / Asian
Uniqlo, the world’s fastest growing mid-market Japanese apparel brand, will open its second store next month here in keeping with its five-store target until August next year and a total of 50 stores in three years.
Katsumi Kubota, chief operating officer of Fast Retailing Philippines Inc., told reporters its second store will open on November 16 in SM North Edsa with the same size (1,581 square meters) with its first store in the SM Mall of Asia in Pasay City.
“Our fiscal year ends in September and we plan to have a total store of 5 stores before August next year,” Kubota said. All the next three stores would likewise be located in Metro Manila. Each store has an investment of $ 1 million, excluding inventories. Uniqlo will employ 78 regular store associates. It has 110 employes for its SM MOA store.
The opening of the second store followed after a very successful initial salvo in the country.
According to Kubota, Uniqlo’s initial salvo in the Philippines was very successful. So far, they have already sold 300 million pieces of apparel noting that its Philippine sales in the first seven days alone from opening in June this year exceeded all other Uniqlo stores’ first seven-day sales.
Kubota said that Uniqlo’s expansion in the next ten months has to remain in Manila in order to build a more solid fundamental structure. He, however, said that they are looking at Cebu, Davao, Cagayan de Oro and General Santos where the big malls are for their expansions in the future.