Dive Brief:
- Uniqlo parent company Fast Retailing announced Monday plans to expand into the Canadian market.
- The Japanese retailer said that it will open two stores in Toronto late next year, in "high quality malls," according to Fortune.
- Following this Canadian expansion, Uniqlo will operate in 18 markets worldwide.
Dive Insight:
Uniqlo has plenty of cautionary tales to heed before entering the Canadian market, the most prominent being Target's recent closure of all its operations in the country. It seems like Uniqlo is avoiding some of Target's mistakes in Canada with a very strategic expansion, which includes cautious openings and strategic store locations.
If Fast Company succeeds in Canada, it will help the company accomplish its goal to become the world's largest apparel retailer, surpassing competitors H&M and Zara.