Uniqlo buys stake in Viet­nam's fash­ion brand Elise

Apparel Online - - Retail Current -

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.

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