Global casual wear retailer UNIQLO has revealed plans to double the number of its stores throughout North America in 2024.
The expansion announcement is in line with the company’s goal to operate a network of 200 stores in the region by 2027.
UNIQLO has 53 stores in the US and 19 in Canada.
The brand reported strong performance in the fiscal year ending 31 August 2023 and expects double-digit sales growth in its existing stores.
The brand now seeks to open more than 20 new locations across the US and Canada, with a focus on eastern and western regions including new markets.
By spring 2024, UNIQLO will open five stores in the US including in Tacoma, Washington and Providence, Rhode Island.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
It will also open four stores in Canada: two in Toronto and one each in Calgary and Ottawa.
UNIQLO North America CEO Daisuke Tsukagoshi stated: “We couldn’t be more excited to enter the next phase of our North American expansion plan and serve more customers in the US and Canada.
“Stores are the heartbeat of our business, where we can engage with our local communities, hear directly from our customers and best understand their needs to continue to improve and perfect our products. We’re looking forward to a big year ahead.”
UNIQLO, a brand of Japanese retailer Fast Retailing, offers clothing for men, women and children.
The brand entered North America in 2005 with its first location in the US.
During the fiscal year 2023, Fast Retailing reported operating profit growth of 28.2% to Y381.1bn ($2.56bn).