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Uniqlo set to open Fifth Ave. flagship
New York City -- Uniqlo, the expansion-minded Japanese apparel retailer, on Friday will open its largest store in the world, an 89,000-sq.-ft. flagship on Fifth Avenue. The three-level store reflects the chain’s ambitious designs on the United States and also the changing nature of Fifth Avenue, which is experiencing an influx of moderately-priced retailers.
Uniqlo is looking to grow its business to $50 billion by 2020. U.S. expansion figures into its strategy.
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Accenture forecasts ‘careful’ and ‘controlled’ holiday spending
New York City -- An overwhelming majority (72%) of U.S. consumers expect their holiday spending to be “careful” or “controlled” in 2011, according to Accenture’s annual consumer holiday shopping study. Discounts, sales and prices are still top of mind this holiday, with 40% of consumers saying an item being on sale is the single most important factor in their decision to purchase.