Gap and Old Navy better watch out, because Uniqlo’s coming for them.The low-priced Japanese retailer is looking to invade American malls as other retailers are cutting stores, reports Stephanie Clifford at the New York Times.
It’s firing up “aggressive growth plans at shopping malls that are expected to include 20 to 30 new stores a year over the next eight years,” according to the Times.
So get ready. Right now, Uniqlo is limited to its three big locations in New York City. Next up is a a downtown San Francisco location, and it has just leased a a location in Paramus, New Jersey which was previously home to an Old Navy store.
Uniqlo, whose offering puts it up against basics brands like Gap and Talbots, has reached its saturation point in Japan. So, it’s looking for expansion in international markets — especially the U.S.
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