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Japan's Fast Retailing aims to fivefold sales by 2020

09-14-2011 15:15 BJT

YOKOHAMA, Japan, Sept. 14 (Xinhua) -- Asia's No. 1 apparel chain Fast Retailing Co., the maker of casual wear Uniqlo, aimed to fivefold its total net sales to five trillion yen in 2020 from one trillion in 2010, its president said Tuesday.

The company aimed to increase its sales by 500 billion yen per year from 2011 to 2020. To achieve this, it planned to open 300 Uniqlo stores that would each generate annual net sales of two billion yen every year, Tadashi Yanai, President of Fast Retailing told a business strategy meeting in Yokohama.

"We will make Uniqlo a brand that represents Japan in the world and a brand that represents clothing, by using the strengths of Japan such as innovative technologies, meticulousness, service at stores and item-by-item management," Yanai said.

Targeting the world's No. 1 in clothing industry, Fast Retailing would strive to further strengthen Asia's top spot by expansion in growing markets such as China and India, he added.

It would develop 100 billion yen business in China in two to three years, before it achieved a one trillion yen business eventually with an operating income margin of over 15 percent, Yanai said.

The company also planned to increase the number of global production bases to 50, which will manufacture five billion articles of clothing by 2020. It will build factories in Bangladesh, Vietnam, Indonesia and Cambodia and start full-fledged production in India.

 

Editor:Zhang Rui |Source: Xinhua

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