First Uniqlo Store in Vietnam to Open in Autumn 2019

Economy

Hanoi, Aug. 30 (Jiji Press)--Japan's Fast Retailing Co. <9983> said Thursday it will open the first Uniqlo casual wear shop in Vietnam in Ho Chi Minh City, the biggest city in the Southeast Asian nation, in autumn 2019.

The company aims to solidify its business base in Vietnam, which has a population of nearly 94 million, as personal consumption looks certain to increase steadily in the country in line with its rapid economic growth.

The Uniqlo brand is well known among consumers in Vietnam, especially young people.

Fast Retailing will set up Uniqlo Vietnam Co. in Ho Chin Minh City. It will be owned 75 pct by Fast Retailing (Singapore) Pte. Ltd. and 25 pct by major Japanese trader Mitsubishi Corp. <8058>.

Personnel at the shop will be recruited locally.

[Copyright The Jiji Press, Ltd.]

Jiji Press