The wait is finally over!
Uniqlo, the Japanese fast fashion brand, opened today in Ho Chi Minh City. The store is located at Parkson Saigon Tourist Plaza in District 1.
The brand is elated over its presence in Vietnam, which is one of the fastest growing garment and textile hubs in Southeast Asia.
Substantiating the same, Tadashi Yanai, Chairman and CEO, Fast Retailing, remarked “Vietnam has a massive potential and will soon become one of the biggest consumer markets in the world.”
The Chairman said that Uniqlo currently manufactures products worth US $ 33 billion in Vietnam and the numbers are only going to increase in the coming years.
As far as pricing goes, the brand, reportedly, believes to initiate medium- and long-term pricing strategy to ensure there is revenue and profit for every store.
“We want to compete with high quality, sustainable products at reasonable prices, not [by] discounting,” reasoned Osamu Ikezoe, Co-CEO, Uniqlo Vietnam.
The brand is also planning to open its second store in Vietnam, which will be in Hanoi.