Dive Brief:
- Japanese apparel retailer GU will open its first store in the U.S. this fall in the SoHo neighborhood of New York City, according to a company press release.
- The pop-up marks the first location of GU outside of the Asia region, and will feature trendy apparel for men and women.
- GU is owned by Fast Retailing, which also owns Uniqlo.
Dive Insight:
GU is opening a pop-up location in New York City in order to further the company’s business expansion objectives.
The company currently has around 450 locations which are mainly in Asia.
“By opening a pop-up shop in the center of SoHo, we will be able to reach a wide range of customers, including New York residents as well as tourists, offering them products filled with the sense of trendiness exemplified in the GU brand message of 'Your Freedom,' and allowing them to enjoy outfits that freely express their individuality,” Osamu Yunoki, CEO of G.U. CO., said in a statement.
GU’s current objectives include strengthening its ability to offer trendy fashion pieces at low prices, reducing lead times, and buying and stockpiling raw materials so it can expand its range of low-priced products. The brand contributes nearly 12% to Fast Retailing’s net sales.
Pronounced with the letters G and U, the retailer’s name is close in sound to the Japanese word jiyu, which means freedom.
GU’s sister brand Uniqlo has around 800 stores in Japan and over 1,500 stores globally. This spring, the company decided to temporarily close its stores in Russia. “[I]t has become clear to us that we can no longer proceed due to a number of difficulties,” the company said in a press release at the time. It was a reversal of a previous decision to continue with operations following Russia’s invasion of Ukraine.
