JAPAN: Uniqlo eyes acquisitions for move into food business
Japanese discount chain Uniqlo is reportedly planning a move into food retailing, hoping to start selling fruit and vegetables in the country by autumn. To do this it may acquire a mid-sized supermarket operator. Tadashi Yanai, president and CEO of Uniqlo's parent company Fast Retailing, told the Times that the proposed food retail business would trade under a different, and yet undecided, name: "We want to apply the Uniqlo philosophy to food.
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