Will Uniqlo Buy J.Crew?
Uniqlo’s owner, Tadashi Yanai, made it know that he wants Fast Retailing Company to become the biggest clothing retailer in the world. His next stop toward world [shopping] domination might include buying J.Crew, valued at $5 billion.
“Uniqlo has expanded overseas by opening stores and acquiring and absorbing businesses that have designing power and brand image,” Mikihiko Yamato, deputy head of research at JI Asia in Tokyo told Bloomberg. “Having J. Crew would help as it’s the brand people know and that can attract a lot more customers than doing it alone.”
This move could be a good thing considering that the American retailer, J.Crew Group Inc., is said to be seeking a $1.47 billion loan to refinance its debt. Factoring in that, Yanai’s business would be able to compete with fast fashion empires like Zara and H&M should there be an inquisition, this could be a win-win for all involved.
We’ll be sure to update you as we learn more.