JAPAN: Fast Retailing opens first g.u. store
Fast Retailing Co has opened its first shop for new lower-priced clothing line g.u. inside an outlet of supermarket chain Daiei Inc in Chiba Prefecture.
The brand includes shirts and jeans priced around 30% below Fast Retailing's well-known Uniqlo brand
Speaking at the opening ceremony, Tadashi Yanai, the company's chairman and president, said: "Fast Retailing hopes to nurture g.u. into one of core clothing brands like Uniqlo."
Fast Retailing hopes to achieve sales of JPY10bn from the g.u. brand in its first year, and plans to open 25 g.u. outlets before the end of 2006, 13 of which will be inside Daiei supermarkets.
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