Uniqlo to open first US store outside New York
Photo : AFP
The retailer said on Tuesday that the store will be Uniqlo's fourth U.S. location. It already operates three stores in New York, including a large flagship on the Fifth Avenue shopping strip; that store opened last year.
The retailer has said its goal is to eventually have 200 stores in the United States and U.S sales of $10 billion by 2020. Uniqlo, run by Japanese billionaire Tadashi Yanai, competes with rivals such as Spain's Inditex SA, which operates Zara; Sweden's Hennes & Mauritz AB ; and U.S.-based Gap Inc.
It is looking to expand globally to become less reliant on its home market of Japan. (Reporting By Phil Wahba; Editing by Gerald E. McCormick)
© Thomson Reuters 2013 All rights reserved.