ID :
78124
Wed, 09/02/2009 - 22:52
Auther :
Shortlink :
http://m.oananews.org//node/78124
The shortlink copeid
Uniqlo operator aims 7-fold rise in group sales to 5 tril. yen by 2020
+
TOKYO, Sept. 2 Kyodo -
Fast Retailing Co., the operator of the Uniqlo casual clothing chain, said
Wednesday it intends to raise its group sales around seven-fold to 5 trillion
yen by 2020 through expanding its global operations, particularly in growing
Asian markets.
For the business year that ended in August, the company anticipates record-high
group sales of 682 billion yen and an operating profit of 108 billion yen.
Fast Retailing President Tadashi Yanai said the company plans to achieve over 3
trillion of the 5 trillion yen target in overseas sales, aiming for 1 trillion
sales each in China, other parts of Asia, and the U.S. and European markets.
The firm plans to open Asia's first global flagship store in Shanghai and enter
the Russian market by opening its first outlet in Moscow in spring 2010. Its
flagship store in Paris is also expected to open in October.
By 2020, Yanai said he hopes to expand the number of Uniqlo global outlets to
around 4,000 from over 800 stores currently open worldwide.
While Uniqlo sales did drop in July, the retailer has been a rare strong
performer with a consistent series of mega-hit products in an industry
withering under a severe economic downturn and a ballooning aging population.
Yanai recently inked various collaborative deals to boost Uniqlo's brand image
abroad, including with famed German luxury fashion designer Jil Sander and Walt
Disney Co. of the United States, while also aggressively seeking opportunities
for mergers and acquisitions.
While he said Fast Retailing hopes to achieve the 2020 target mostly on its
own, he added M&As will be ''pivotal to growth in the United States and
Europe'' without specifying which firms he is targeting.
''We want to do it on our own if we can,'' Yanai said at a press conference in
Tokyo. ''But as in any industry, there will definitely be a worldwide
realignment, and we want to be the first company to take part when that timing
arrives.''
Yanai said the company is on track to achieve around 80 percent of its 1
trillion group sales target for 2010 and anticipates a pre-tax profit of around
120 billion, compared with 150 billion yen it projected in 2005. He added that
he hopes to meet the projections by completing M&A deals next year.
==Kyodo
2009-09-02 23:37:32
TOKYO, Sept. 2 Kyodo -
Fast Retailing Co., the operator of the Uniqlo casual clothing chain, said
Wednesday it intends to raise its group sales around seven-fold to 5 trillion
yen by 2020 through expanding its global operations, particularly in growing
Asian markets.
For the business year that ended in August, the company anticipates record-high
group sales of 682 billion yen and an operating profit of 108 billion yen.
Fast Retailing President Tadashi Yanai said the company plans to achieve over 3
trillion of the 5 trillion yen target in overseas sales, aiming for 1 trillion
sales each in China, other parts of Asia, and the U.S. and European markets.
The firm plans to open Asia's first global flagship store in Shanghai and enter
the Russian market by opening its first outlet in Moscow in spring 2010. Its
flagship store in Paris is also expected to open in October.
By 2020, Yanai said he hopes to expand the number of Uniqlo global outlets to
around 4,000 from over 800 stores currently open worldwide.
While Uniqlo sales did drop in July, the retailer has been a rare strong
performer with a consistent series of mega-hit products in an industry
withering under a severe economic downturn and a ballooning aging population.
Yanai recently inked various collaborative deals to boost Uniqlo's brand image
abroad, including with famed German luxury fashion designer Jil Sander and Walt
Disney Co. of the United States, while also aggressively seeking opportunities
for mergers and acquisitions.
While he said Fast Retailing hopes to achieve the 2020 target mostly on its
own, he added M&As will be ''pivotal to growth in the United States and
Europe'' without specifying which firms he is targeting.
''We want to do it on our own if we can,'' Yanai said at a press conference in
Tokyo. ''But as in any industry, there will definitely be a worldwide
realignment, and we want to be the first company to take part when that timing
arrives.''
Yanai said the company is on track to achieve around 80 percent of its 1
trillion group sales target for 2010 and anticipates a pre-tax profit of around
120 billion, compared with 150 billion yen it projected in 2005. He added that
he hopes to meet the projections by completing M&A deals next year.
==Kyodo
2009-09-02 23:37:32
