Fast Retailing debuts on Hong Kong exchange

Shares in Japanese giant Fast Retailing are now being traded on the Hong Kong Stock Exchange.

The listing is aimed at increasing awareness in China and beyond and part of a goal to become the world’s largest apparel retailer by 2020, surpassing Zara, H&M and Gap.

“Having successfully completed the listing of its Hong Kong depository receipts (HDRs) in Hong Kong, Fast Retailing, together with Uniqlo and our other group companies, aim to take this special opportunity to reinforce and strengthen the brand image of our group in the eyes of our customers and the society at large,” said the company in a statement.

Fast Retailing ambitiously plans to more than treble its Greater China store network to 1000 by 2020.

“Most of the stores will be opened in the mainland as we would like to be present in 661 cities, including those inland, from just 50 cities now,” said Pan Ning, the company’s group EVP.

The company is also mulling buying US retailer J.Crew, which has more than 300 retail stores.

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