Uniqlo has unveiled its updated retail strategy for the coming year and plans to accelerate its growth in North America in 2024.
Uniqlo is looking to expand its retail presence in both the Eastern and Western US and plans to double the number of new store openings in the US and Canada, with more than 20 new locations set to open by 2024.
With nine new stores planned for spring 2024, the Fast Retailing Co. Ltd. brand will be launched. Five stores are opening in the US and four in Canada, including new locations in Washington states, Massachusetts, Rhode Island and New York, as well as Toronto, Calgary and Ottawa, Canada.
The new retail expansion plan builds on Uniqlo’s original strategy to operate more than 200 stores across North America by 2027.
“We are excited to enter the next phase of our North American expansion plan and serve more customers in the U.S. and Canada,” said Daisuke Tsukagoshi, CEO of Uniqlo North America, in a statement. “The stores are the heart of our business. Here we can connect with our local communities, hear directly from our customers and best understand their needs to further improve and perfect our products. We look forward to a big year ahead.”
The expansion push comes amid Uniqlo’s continued success in North America, where the division reported “significant growth” for the fiscal year ending August 31, 2023. Uniqlo expects strong growth to continue through 2024 and expects double-digit sales growth in its existing retail stores.
Since opening its first store in the United States in 2005, Uniqlo has strived to make its LifeWear apparel range available to a wide range of customers in North America. The Japanese retailer currently operates more than 2,400 stores worldwide, including 53 stores in the United States and 19 in Canada.
This translated post previously appeared on FashionUnited.uk