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Uniqlo parent eyes global acquisitions

2/11/2010

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.

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