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Uniqlo reboots aggressive expansion, seeing a return to normality

China lockdowns, Ukraine war, rising costs could make it hard to keep prices low

Japan and China are Fast Retailing's two main markets, accounting for around 75% of revenue, according to QUICK-FactSet. (Photo by Ken Kobayashi)

TOKYO -- Fast Retailing is getting back on track with new Uniqlo store openings this fiscal year, eyeing the launch of 400 to 500 outlets globally on an annual basis soon, as it sees a return to pre-COVID normality, CEO Tadashi Yanai said Thursday.

"Although COVID-19 cases are rising in some parts of the world, economic activities in many countries are getting back to normal," said Yanai at a press conference. "The pace of new-store openings in each region had slowed down due to the pandemic, but from this fiscal year, we will resume active openings, and in the near future, we hope to open 400 to 500 new stores annually worldwide."

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