Uniqlo’s business model is breaking records. And in 2027, a fifth shop in Italia
An interview with Taku Morikawa, CEO of Uniqlo Europe, a region that has seen sales rise by almost 40 per cent in a year: “We focus on quality, durability and supporting people’s lives”
“In everything we do and offer, it is not quantity that matters to us, but quality”: Taku Morikawa, who has been at the helm of Uniqlo Europe – the division of the Japanese Fast Retailing group’s flagship brand – for almost ten years, puts it politely yet firmly. Simplicity, functionality and minimalist yet distinctive design underpin not only a style formula that is increasingly popular worldwide – as confirmed by recent figures from the last financial year – but also the brand’s shrewd retail strategy, with 2,500 shops today. It arrived in Italia in 2019, with the shop in Piazza Cordusio in Milan, and just five years later opened the store in Rome on Via del Corso, followed a few months later by the second openings in both cities. Three years on, the third shop in the Milan area is expected to open next spring: a 1,000-square-metre space spread over two floors in the Il Centro shopping centre in Arese.
“Italia is a very important market; customers are well versed in fashion and appreciate the classics, and we listen to them carefully precisely because of this widespread understanding of the product. And I must say that the footfall in our shops is impressive,” notes Morikawa.
The figures for Fast Retailing’s financial year 25–26, which ended last August, are also “impressive”: the group, founded in 1963 and led by Chairman and CEO Tadashi Yanai, recorded its highest-ever sales, totalling 3.96 trillion yen (approximately 23.6 billion euros), up 16.6 per cent on the previous financial year and marking the fifth consecutive year of growth, with further growth (+12.3 per cent) already expected for 26–27. Uniqlo, which accounts for almost 70 per cent of the group’s sales, grew by as much as 26 per cent, with the sharpest increases recorded in Europe (+38.7 per cent) and North America (+34.6 per cent) – markets which, taken together, have overtaken China for the first time.
Competitor groups did not fare quite as well, although they differed due to their strong focus on fashion: in the first half of the year Inditex recorded a 7.6 per cent increase, whilst for the first nine months of 2026, H&M were essentially flat compared with the same period in 2025. With typical Japanese courtesy, Morikawa declined to comment on this difference in performance: ‘I believe that, especially after Covid, people want to buy functional garments that help them live better,’ he says. ‘This is our LifeWear philosophy, through which we offer high-quality, beautifully designed products that are durable and, ultimately, simplify life. We don’t look at what others are doing; for us, what matters is listening to our customers, taking on board both their requests and their complaints, especially in our shops which, despite the growth of e-commerce – which now accounts for 20 per cent of sales – remain our most important points of contact with customers. This data is then passed on to our research and development centres in Paris and London to guide and improve our product range. For example, after gathering a great deal of feedback on this, we have adapted our garments using Blocktech technology (water-repellent, windproof and breathable, ed.) to the different climates in Asia and Europe’.
Listening to the market also means embracing the challenge – and the opportunity – of the second-hand market, a service that competitors have been offering for some time: ‘We have launched a pilot scheme in three shops in Japan, and the intention is certainly to expand it,’ continues the CEO. On the subject of market expansion, we would also like to bring the Gu brand (also part of the Fast Retailing portfolio, ed. ) to Europe; it is currently available in Japan, China, Taiwan and the United States, and from January has been led by Francesco Risso. However, our aim is not to be number one in sales, but to support people in their lives, always acting with a sense of responsibility.”
