Japanese clothing giant Uniqlo is mulling expansion in London next year, after relaunching its troubled UK operations and cancelling its debt.
Uniqlo chief executive in the UK Masatoshi Morita said new stores could open next year, but would not say when or how many. 'We have down-sized the business and costs have been reduced. Our bottom line is much better. Given that we can be profitable, we will open stores in the Southeast some time next year,' he said.
A property source confirmed that Uniqlo is 'definitely considering looking at stores, probably in London', and added that Uniqlo went out to the regions too quickly when it first arrived in the UK.
The news follows Uniqlo signing a logistics deal with DTS Logistics.
The six-figure contract will help the retailer cut distribution costs.
DTS chairman Michael Daly said: 'Uniqlo is much more streamlined now, and we are pleased to have the opportunity to work with Uniqlo at such an exciting time.'
Poor sales in the UK forced Uniqlo to close 16 of its 21 stores last August. Most of these have been sold.
No comments yet