REPUBLIKA.CO.ID, JAKARTA - Japanese retail company, Fast Retailing Ltd expands it business in Indonesia by launching a brand clothes for Indonesian market, Uniqlo. The company works with Mitsubishi Corporation to provide a capital expenditure worth one billion yen.
"About 75 percent of capital expenditure come from the parent company, Fast Retailing, while 25 percent from Mitsubishi Corporation. Indonesia has a huge potential because of its strategic position," said CEO of Fast Retailing Ltd Tadashi Yanai on Friday.
Uniqlo's first store will be opened at LOTTE Shopping Avenue in Kuningan, South Jakarta on June 22, 2013. The store has an area of 2,680 square meters and will offer a wide selection of apparel, ranging from children's clothing, baby, teen and adult.
CEO of Fast Retailing Indonesia, Yasuhiro Hayashi said the company would focus in introducing the brand of Uniqlo in Indonesia. "I'm sure Indonesian people will welcome Uniqlo due to its reputation as number one brand in Japan," said Hayashi.
The company plans to expand 10 more stores in Indonesia while at global level Fast Retailing Ltd has 1,254 stores including in Europe, USA and Asia. The company has 23 stores in Southeast Asian countries including in Thailand, Malaysia, Philippines and Singapore.
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