Uniqlo opens 52nd Philippine store

MANILA: Casual clothing retailer Uniqlo has opened its largest Southeast Asian store, here, widening its bet on the fast-growing Asian economy.

Fast Retailing Co, which owns the chain, debuted the 4,100sq m store in the city’s Makati business district yesterday. It dwarfs the 2,700sq m site opened in Singapore’s Orchard Road two years ago, and takes the Philippines’ total store count to 52, the most in Southeast Asia and fourthmost outside Japan.

The seller of basic clothes that emphasise advanced materials is betting on the country’s young, English-speaking population and booming tourism market to drive sales. Economic growth slowed to six per cent in the second quarter, as household consumption — which accounts for more than a third of gross domestic product — rose 5.6 per cent.

“We have a lot of headroom to grow given the size of the Philippine economy and its growth potential,” said Satoshi Hatase, Uniqlo’s Southeast Asia and Oceania chief executive officer. “This is far from being saturated.”