UNIQLO, the global clothing company from Japan, has announced it will open its first store in Hue city, the central province of Thua Thien-Hue, in 2025.
Vietnam, with a population of nearly 100 million people, is considered a potential investment market for famous retailers around the world, therefore, many foreign retailers have increased their investments.
Vice Chairman of the Hanoi People’s Committee Nguyen Manh Quyen on July 19 received visiting Noriaki Koyama, head of CEO office of Fast Retailing – the parent company of Uniqlo brand, who revealed that Uniqlo plans to open several new stores in the capital city this year, and some flagship ones in 2023 towards the 50th anniversary of Vietnam-Japan relations.
UNIQLO, a well-known Japanese global apparel retailer, is expected to open its first store in Vietnam by the end of the year in downtown Ho Chi Minh City.
Competition between domestic and foreign retailers is likely to remain fierce this year, requiring Vietnamese businesses to cooperate in order to maintain their market shares, said an official from the Ministry of Industry and Trade (MoIT).
Japanese casual clothing retailer UNIQLO unveiled its plans to open its first store in Vietnam during the fall of 2019, marking its further expansion in Southeast Asia.
The influx of foreign fast fashion brands into Vietnam is threatening local retailers’ market share, forcing the firms to move to keep their foothold in the market, Dau tu (Vietnam Investment Review) newspaper reported.
The Garco 10 Corporation – SJC is seeking Japanese partners to bring products to the Japanese market in 2017 and the coming years, said the company’s Deputy General Director Than Duc Viet.