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Uniqlo to double UK sales with Oxford Street shops

Uniqlo’s two new London Oxford Street stores will double the retailer’s UK sales, according to Tadashi Yanai, chairman and chief executive of parent company Fast Retailing.
Speaking before the opening of the 25,000sq ft Oxford Street flagship, which opened on Wednesday, the same day as a 17,000sq ft shop on the same street, Yanai said: “It will raise our presence and brand awareness in London and the UK.”

Although Uniqlo’s UK operations account for just 1% of its total business, Yanai said the UK flagship was vital to making the retailer a global brand. It opened a global flagship in New York 12 months ago.

“I believe this new flagship will change the way people perceive Uniqlo and will increase its brand recognition in the UK,” said Yanai.
The double opening means the retailer now has three stores on Oxford Street, and brings the total number of UK shops to 13.
The two new stores have Uniqlo’s revamped logo, which features the Japanese and English versions side by side. The new logo will eventually appear on all the chain’s fascias and on garment labels.

Net sales at Uniqlo’s operations outside of Japan almost doubled for the year ending August 31 to £70.8 million, but the UK and US operations ran at a loss for the same period due to the cost of store openings. Sales were boosted instead by positive performances from operations in China, Hong Kong and South Korea, which took the overseas operation into the black.

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