Uniqlo parent eyes global acquisitions

New York City The parent to Japanese retailer Uniqlo said it is seeking acquisition opportunities in order to expand its brand around the globe.

According to a report by the Wall Street Journal, Fast Retailing Co. chairman and CEO Tadashi Yanai said it would spend as much as $11 billion to strengthen its global presence.

Yanai told the Journal early Thursday that acquisitions -- particularly in the United States and Europe -- would be necessary in order to transform Uniqlo into the world's leading global apparel retailer, an aspiration he has made no secret of.