Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Uniqlo parent mulls J Crew buy out

Uniqlo parent company Fast Retailing are in talks with the owners of J Crew, as the Asian giant mulls a takeover bid for the US preppy retailer.

Fast Retailing has approached J Crew owners – private equity firms TPG and Leonard Green & Partners  - according to the Wall Street Journal. Sources indicated that the pair would be looking for “upwards of $5bn”, although it is not clear whether Fast Retailing would pay that much.

The talks come as the two firms also consider floating the retailer, which launched in the UK last autumn to much fanfare.  WSJ’s sources said the company asked Goldman Sachs Group to advise on a potential IPO back in January.

Uniqlo, which has 1,277 stores in Asia including 856 in Japan, has fewer than 20 in the US, while J Crew has 400 stores in the States.

Fast Retailing reported profits of Y90bn (£530m) on sales of Y1.14 trillion last year.  J Crew reported revenues of $2.4bn (£1.4bn) in its financial year, which runs to February 1. 

Readers' comments (1)

  • not sure what the fuss is all about with J Crew, the 2 stores they have in the UK are nice but nothing that's not already been done, the only difference is they have converted $1 for £1 in there pricing policy like A&F - and the Brits have fallen for it!

    Unsuitable or offensive? Report this comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.