Japanese clothing chain UNIQLO has just opened its largest store thus far in NYC’s prominent 5th Avenue shopping district.
The size of this UNIQLO shopping wonderland is 89,000 square feet – huge enough to make any fashion-lover’s heart smile.
Fast Retailing’s CEO, Tadashi Yanai, said that with this store’s grand opening, the company is set to make $54 billion USD by 2020, turning UNIQLO into the world’s largest apparel retailer.
To reach this goal, the company plans to open 4,000 UNIQLO stores worldwide, including 1,000 in China alone.
Over the next two years, the company aims to start 200 to 300 stores, some of which will be large-scale.
Yet progress also comes at a price. The cost of building the newly opened 5th Avenue store is estimated to be $20-$25 million USD. The lease itself will cost $300 million over the next 15 years.
Math-minds may realise that this works out to be $2,000 USD per square foot. It is likely the most expensive lease in Manhattan’s history.
What I want to know is, when is UNIQLO coming to Vancouver, Canada?
Photo credit: shinya
Young professional married with no kids. Best asset is her attitude, best resources are the people she loves. Spends her leisure time building the AX3 dream.
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