Japanese casual wear manufacturer Uniqlo seen to open store in Hanoi

The Japanese fashion brand posted a recruitment of staff in Hanoi with a monthly salary of about $300-344. It also plans to organize a recruitment day in Hanoi on November 1st and 2nd. However, Uniqlo representative declined Zing News reporter’s request for comment on this information.

Earlier, the company announced to open its first store in the country, at Parkson Saigon Tourist Plaza in District 1. This would be one of its biggest stores in Southeast Asia, the company said in a release.

Uniqlo established its Vietnam business with a charter capital of $8.8 million, with apparel company Fast Retailing Singapore owning a 75 percent stake and Japan’s Mitsubishi Corporation the rest.

Ending the fiscal year 2019 on August 31, Fast Retailing announced revenue of $21.2 billion, up 7.5% compared to 2018. Pretax profit reached $2.3 billion, up 4% over the same period.Uniqlo is the main growth driver of the group with revenue reaching $9.5 billion, up 14.5% compared to 2018.

The casual wear manufacturer, which is already in Singapore, Malaysia, Thailand, the Philippines, and Indonesia in Southeast Asia, had 213 stores in the region by the end of last year and plans to have 400 by 2022. It now has over 2,200 stores in 24 countries and territories.

Currently, Vietnam is a big market of many fashion brands such as Zara, H&M, Mango, Topshop, Pull & Bear, Stradivarius. Vietnam’s fashion market is estimated to grow to more than $3.8 billion this year and over $5 billion by 2021, according to BMI Research.

Source: Zing