April 10 (Reuters) – Fast Retailing Co’s Uniqlo fashion
chain will take its U.S. expansion beyond New York City this
year, with a store in San Francisco set to open in the autumn.
The retailer said on Tuesday that the store will be Uniqlo’s
fourth U.S. location. It already operates three stores in New
York, including a large flagship stor on the Fifth Avenue that
opened last year.
The retailer has said its goal is to eventually have 200
stores in the United States and U.S sales of $10 billion by
2020. Uniqlo, run by Japanese billionaire Tadashi Yanai,
competes with rivals such as Spain’s Inditex SA, which operates
Zara; Sweden’s Hennes & Mauritz AB and U.S.-based Gap Inc.
It is looking to expand globally to become less reliant on
its home market of Japan.
(Reporting By Phil Wahba; Editing by Gerald E. McCormick)
