JAPAN: Fast Retailing making Asia its priority - report
Japanese retail group Fast Retailing will focus the majority of its expansion on China, Hong Kong and Korea, according to a media report in the region.
According to the Korea Herald, the Uniqlo operator will increase its store numbers in Korea from 33 to 100 by 2012.
"Asia is the only region in the world that has seen stable growth ... While China and Hong Kong are expected to see the fastest growth, Korea is also very important to us," Fast Retailing CEO Tadashi Yanai was quoted as saying by the newspaper.
Fast Retailing revealed in July it was mulling expansion into neighbouring South East Asian nations such as Thailand, Indonesia, Malaysia, Philippines and also India, Vietnam and Australia.
The company lifted its full-year forecasts after profits for the nine months to May jumped by 24%.
Fast Retailing could not be immediately reached for further comment today (24 September).
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