Uniqlo buys stake in Vietnam's fashion brand Elise
Uniqlo, the Japan-based fastfashion giant, has acquired a stake of 35 per cent in Elise, a Vietnamese fashion brand for women. Elise has over 100 retail outlets all across Vietnam and with the finalisation of the deal, the Hanoi-based brand is expected to get tens of millions of dollars. Though the exact figure remains undisclosed, there are talks of it being much higher than Elise’s entire charter capital. The deal has grabbed attention worldwide as it seems to be the first step taken by the Japanese brand to venture into Vietnam. It might be recalled that Fast Retailing had recently announced the launching of its Uniqlo brand in Ho Chi Minh City in 2019. At present, local shoppers are able to buy Uniqlo products either from Vietnamese retailers or get it ordered from Japan. Vietnam is one market Uniqlo has been focusing on for a long time mainly with the latter’s objective to increase its stores in south-east Asia and Oceania to nearly 400 by the year 2022.