Fast Retailing, home of the Uniqlo brand, wants to ramp up the presence of its other fashion label GU in the United States and Europe, as Asia¡¯s largest apparel maker accelerates efforts to become a global retailer with ?10 trillion in annual sales.
¡°GU has the same potential as Uniqlo,¡± Chief Financial Officer Takeshi Okazaki said in an interview. ¡°We can generate as many GU stores as there are Uniqlo ones.¡±
The brand, pronounced as the letters G and U, sounds similar to the word Âá¾±²â¨±, or ¡°freedom,¡± in Japanese. While GU, with slightly lower prices than Uniqlo and clothes aimed at younger clientele, has a solid presence in Japan, it¡¯s less known in other major markets. Building its presence abroad is part of Fast Retailing founder Tadashi Yanai¡¯s push to ¡°become a true global player,¡± by first doubling annual profit to ?5 trillion within a few years.
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