Uniqlo to open first U.S. store outside New York

Reuters News
|
Posted: Apr 10, 2012 11:09 AM

(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 store 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)