Last Updated: 2011.10.12
FAST RETAILING CO., LTD. Establishes Joint Venture with SM Retail, Inc in The Philippines
FAST RETAILING CO., LTD.
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Fast Retailing Co., Ltd. (FR) and SM Retail, Inc. have concluded an agreement to establish a joint venture with a view to developing UNIQLO's business in The Philippines.
1. Objective of joint venture
This venture is established for the purpose of expanding UNIQLO business operations in The Philippines.
2. Overview of venture (the following is subject to change)
- (1) Business name: Fast Retailing Philippines, Inc.
- (2) Location: Metro Manila (Pasay City), The Philippines.
- (3) Representatives: Katsumi Kubota
- (4) Operations: The opening and managing of UNIQLO stores in The Philippines.
3. ABOUT SM RETAIL
SM Retail, the leading retail group in the Philippines, has over fifty years experience in the industry. Its retail operations include a chain of department stores, supermarkets, and hypermarkets strategically located in key cities of the Philippines. It also has chains of specialty store formats that serve niche markets by focusing on a wide selection of merchandise for each category like home stores, toy superstores, hardware superstore like ACE Hardware, personal care store with Watson's and appliance superstores, among others.
SM Retail is part of SM Investments Corporation, one of the country's largest conglomerates, which also has core businesses in mall operations, banking, property, and hotels and conventions.