Japanese retail holding company and Uniqlo parent, Fast Retailing, is to establish a subsidiary in China which will oversee Uniqlo expansion across the mainland.

To be located in Shanghai, the subsidiary will have a paid-up capital of approximately ¥2.8 billion (US$35 million) and is expected to open in June.

“One of the most significant business challenges facing Fast Retailing at present is the expansion of the Uniqlo store network in China and so we are currently pursuing a strategy of aggressive new store openings in that country,” the company said in a statement.

“We will be looking to further strengthen our new store development process going forward as we continue to expand the Uniqlo store network in China. The new subsidiary firm is being established for that purpose,” the company said.

Uniqlo has worldwide operations in the UK, China, Hong Kong, South Korea, US, France, Singapore, Russia, Taiwan and Malaysia – and will be in the Philippines by next month.

As at February, it operated 849 stores in Japan and 234 overseas.

GB