UNIQLO Knows That There Are Tigers In The Mountains.

Here world

The Xiaobian of shoe and hat net tells you that UNIQLO is not afraid of China's stock market turbulence and continues to accelerate the expansion of Chinese stores.

The collapse of China's stock market in the past more than 10 trading days has aggravated people's concerns about the economic situation.

Recently, Fast Retailing Co Ltd said it will not be affected by China's stock market and will continue to expand its scale of its fast fashion brand, UNIQLO (Uniqlo) in China.

China is the largest overseas market of UNIQLO. Its ultimate goal is to surpass its rival Inditex SA (Zara parent company), Sweden Hennes & Mauritz AB (H&M) and American Gap Inc in 2020 to become the world's largest apparel retailer.

Although the growth rate has slowed down, Oka Ken, chief financial officer of fast marketing company, said that so far, the company's strategy in China has not changed.

"From the current situation, our business has not been affected."

In the third quarter of this fiscal year, its operating profit reached 39 billion 200 million yen (US $323 million), an increase of 20% compared with the same period last year.

Ryui Masa, chief executive of the company, said

In the past five years, there are 1000 stores in Greater China, exceeding the number of stores in the Japanese market, and finally reaching 3000.

As of May 31st, UNIQLO had 442 stores in mainland China, Hongkong and Taiwan.

UNIQLO's largest overseas market, China and the two largest overseas market, exceeded the company's expectations.

Japan is still the largest market, benefiting from the best selling of HeatTech and AIRism series. In the first 9 months of May, the same store sales in the Japanese market increased by 8.8% over the same period last year.

But same store sales plummeted 11.7% in June, the biggest drop since October 2013.

The company expects fourth quarter sales to remain under pressure.

For the downturn in June, the reason why Gang believes that the hot weather made consumers stay at home, thus reducing consumption activities.

In Japan, the same store sales growth in the fiscal year is still 5.5%.

Fast marketing company raised its overall target three months ago. It is estimated that the target will remain unchanged.

It is expected that in the current fiscal year (up to August 31st), the operating profit will reach 200 billion yen and sales revenue will reach 1 trillion and 650 billion yen.

It is precisely because of the Chinese market, these enterprises will come to open shop.