Uniqlo's London Flagship

Will Uniqlo debut in Italy?

According to Italy’s financial publication Milano Finanza, the Japanese retailer controlled by Tadashi Yanai’s Fast Retailing Co. Ltd. is in advanced talks with real estate firm Hines to rent a prestigious building in Milan’s central Piazza Cordusio, not far from the city’s Duomo cathedral.

Last summer, Hines acquired the historical palazzo from Sorgente Sgr through an operation valued at 130 million euros, or $142.6 million at current exchange rate.

Milano Finanza also speculated that the store, which would be the first opened by Uniqlo in the country, would inaugurate in mid-2017.

In Europe, Uniqlo is present in four countries, including the United Kingdom, France, Germany and Belgium.

Reached on Wednesday, both Uniqlo and Hines were not available for comments.

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