Fast Retailing set to open first GU brand store in US

Bloomberg

Fast Retailing Co will open its first GU store in the US, adding to its Uniqlo shops in the country as the apparel maker seeks a greater presence in the North American market.
Opening this fall in Soho, New York, the pop-up store will be GU’s first outside Asia, where there are already 450 outlets selling more stylish and trendy apparel aimed at younger customers. Pronounced with the letters G and U, the brand name is a homonym for the Japanese word for “freedom.”
Although the GU store may be temporary, with plans to remain open until summer of 2023, it reflects Fast Retailing’s desire to conquer the North American market. The company aims to have 200 stores there in five years, up from less than 100 now.
Sales of GU clothing and accessories totaled 249 billion yen ($1.9 billion) — or 12% of Fast Retailing’s revenue — last fiscal year.