Uniqlo on track to overtake H&M, eyes Zara for global No. 1

Fast Retailing, the owner of Uniqlo, has forecasted a record 3.96 trillion yen in annual revenue for the fiscal year ending August 2027, marking a 17 percent increase. This revenue surge puts Uniqlo on track to overtake H&M as the world's No. 2 apparel retailer, and challenge Zara for the top spot. Analysts expect Fast Retailing to post 222.7 billion kronor in sales for its fiscal year, while Zara, owned by Industria de Diseno Textil SA, is also expected to see growth.

Uniqlo's success story began as a low-price Japanese casualwear chain, but it has evolved into a global brand, offering functional apparel for all seasons. The company's strategy of resisting the fast-fashion industry's trends has helped build its brand around high-quality, everyday clothing. Uniqlo's CEO, Tadashi Yanai, aims to double annual sales to reach his long-term goal of becoming a global apparel powerhouse.

This milestone of achieving 10 trillion yen in sales is now within reach, as indicated by Fast Retailing's revenue outlook of 4.45 trillion yen for the coming fiscal year.