One of the biggest retail brands from Japan is looking to open at Yorkdale, The Financial Post reports.
Uniqlo has 1,300 stores in 14 countries and is the fourth biggest fashion retailer behind Zara, H&M and The Gap. The Yorkdale store would be its first Canadian store.
The store’s plan calls for a possible 35,000 square-feet of space at Yorkdale. It is slated to open in 2016.
Uniqlo opened its first store in the U.S. three years ago, specializing in basic wear including tees and undershirts that have built-in heating and cooling technology.
There’s also been speculation within retail circle about talks with the Hudson Bay Company for a store-within-a-store concept. Nordstrom, which is also entering the Canadian retail market, could also be a partner. In addition, Uniqlo has recently been linked to take-over talks for J-Crew.
Retail analysts say Uniqlo typically goes big in any new venture, but may find the Canadian retail space already crowded and competitive following U.S. brands and domestic players such as Joe Fresh.
Uniqlo wants to be the biggest clothing chain in the world by the end of the decade.