TOKYO — Fast Retailing said Wednesday that GU, the low-priced sister brand to Uniqlo, would open its first store in South Korea this fall. The store will be located in the Lotte World Mall in Jamsil, Seoul, and will have a sales floor area of 15,000 square feet. It will carry a wide range of the brand’s trend-driven styles for men, women and children.
The news is the latest in a string of announcements from Fast Retailing related to new Uniqlo openings, including its entry into India and a new flagship in the Philippines. Tadashi Yanai, chairman, president and chief executive officer of Fast Retailing, has said his goal is for the company to become the world’s number-one apparel retailer.
Uniqlo first entered the South Korean market in September 2005 with a store in Seoul, and by last month it had grown to include 183 doors across the country. GU is hoping to emulate this success by opening additional stores in the future.
“I am thrilled to launch GU in South Korea, which is such a fashion-conscious country. Launching here is a big step for GU, and we will endeavor to deliver fashion that reflects the latest trends and which frees our customers, while also providing a sincere service experience for the people of South Korea,” Osamu Yunoki, chief executive officer of GU, said in a statement.