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STOCKHOLM, Sweden — Japan's Fast Retailing Co said on Wednesday it planned to launch its Uniqlo clothing brand in Sweden with a first store opening in Stockholm this fall, in a move that would challenge rival H&M in its home market.
The store would mark the cut-price brand's first entry in the Nordic region, Japan's top apparel retailer said.
Uniqlo, known for its cheap, high-tech clothes, is hugely popular in China and other Asian markets but has fewer than 70 stores in all of Europe. Fast Retailing CEO Tadashi Yanai has said he wants to overtake H&M and Zara parent Inditex of Spain as the world's top apparel retailer.
By Sam Nussey and Chang-Ran Kim.