Uniqlo’s first Prague store: Tadashi Yanai eyes global fashion

Tadashi Yanai, founder of Fast Retailing and the richest man in Japan, is steadily leading his empire to the top of global fashion. His Uniqlo brand has beaten its own profit forecasts, and the first store in Czechia will open in Prague no earlier than the start of 2028.

Fast Retailing, the company behind the Uniqlo brand, reported a net profit of ¥743.13 billion (almost CZK 102 billion). That is 32% more than a year earlier. The company itself had expected roughly ¥730 billion, so it did not merely clear the bar but vaulted over it. For the fifth year in a row, Fast Retailing has set a new annual profit record, despite the weak yen on its home market.

Impressive numbers

According to the Financial Times, annual revenue rose by 16.6% to ¥3.96 trillion (more than CZK 546 billion). By comparison, analysts estimate that Sweden’s H&M will post revenue of around SEK 222 billion (roughly CZK 483.7 billion). That means Uniqlo could overtake the Swedish giant for the first time. Only Zara remains bigger.

For the coming year, Uniqlo’s parent company forecasts an operating profit of ¥830 billion (more than CZK 114 billion). The main growth drivers were sales in North America and Europe, while results in mainland China were weaker.

Yanai’s dream: to be number one

Tadashi Yanai has long said he wants to turn Uniqlo into the world’s largest clothing retailer. The growing fashion for minimalism may help the brand along the way. Uniqlo president Daisuke Tsukagoshi told the Financial Times that one of the keys to sales growth is expanding the range of off-season clothing. According to him, collections used to be built around the four seasons, but today the boundaries between seasons are blurring.

The brand is also betting on global ambassadors. They include Grand Slam champion Roger Federer, and on the women’s WTA tour Uniqlo dresses Britain’s Emma Raducanu.

The first store in Prague

The company began in 1984 with a single store in Hiroshima. Today Uniqlo has more than 2,500 outlets selling affordable clothing in over twenty countries. The brand plans to come to Czechia no earlier than the start of 2028. The first store is to open in a former monastery next to the Hibernian House (U Hybernů) on Republic Square in Prague.