The clothing chain
is one of Japan’s biggest exports today and is owned by Japan’s richest (or
second richest, depending on who you ask) man. It claims to be
the world’s fastest-growing apparel retailer.
Uniqlo’s parent
company, Fast Retailing Inc., has partnered with the Sy family’s SM Retail
Inc. to form Fast Retailing Phils. Inc. Uniqlo’s first Philippine store opens
in June at SM Mall of Asia. The shop, to cover 1,500 sq m, will carry the
men’s, women’s and children’s lines.
Tadashi Yanai, chair
and chief executive of Fast Retailing Inc., said in an interview early this
year that Uniqlo is going into developing countries with a fast-growing
middle class, naming the Philippines and other Asian countries.
Uniqlo is expanding
rapidly overseas, aiming to have 288 stores outside Japan by August, most of
which will be in Asia. The Philippines is the 13th country in its roster,
following recent openings in Thailand and Malaysia.
Katsumi Kubota,
chief operating officer of Fast Retailing Phils., said the brand can’t claim
to be No. 1 in Asia if it doesn’t go into markets like the Philippines. It’s
also present in Hong Kong, Singapore, South Korea, China and Taiwan.
Uniqlo manufactures its clothes in China, Vietnam and Bangladesh.
Kubota said there are no immediate plans to make their
clothes in the Philippines. He and Naoko Otoma, group executive vice
president of Fast Retailing Inc., declined to say the amount of the company’s
investment in the Philippines, or the number of stores they plan to set up
here.
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VOCABULARY
1.
Chain
(n) - a number of shops, hotels, cinemas etc owned or managed by the same
company or person
2.
Apparel
(n) – clothes (formal)
3.
Expanding
(v) - open new shops, factories etc [↪ expansion]
4.
Manufacture
(v) - to use machines to make goods or materials, usually in large numbers
or amounts
5.
Immediate
(adj.) - happening or done at once and without delay
QUESTIONS FOR DISCUSSION
1.
What is Uniqlo? Why is Uniqlo popular in Japan?
2.
Discuss other cheap brand of clothing in your
country. Is brand important?
3.
Do you like fashion? Why? Why not?
4.
Talk about winter/spring/summer/autumn wear.
5.
How often do you buy new clothes? How much do
you spend?
