NEW YORK — Uniqlo, the Japanese retailer often compared with the Gap for its well-priced basics, will open its first U.S. flagship this fall in SoHo here.
Part of the 50,000-square-foot, three-level space at 546 Broadway, between Prince and Spring Streets, will be used for Uniqlo’s U.S. headquarters. The store could occupy the ground floor and lower level, a company spokesman said.
While Uniqlo’s stores were designed to look like warehouses — the name stands for Unique Clothing Warehouse — a new, more sophisticated prototype may be used for the flagship.
Uniqlo has been testing the U.S. market with a temporary store at 76 Greene Street in SoHo since November. The store, which was set to close in January, did so well that it will stay open through June, the spokesman said. Before making a commitment to Manhattan, Uniqlo also opened several stores in New Jersey malls last year.
The company is best known for its fleece products, including bright-colored turtlenecks priced at $10.50 and reversible jackets for $29.50.
For Christmas, Uniqlo featured cashmere sweaters for women at $49.50 and up. Jeans start at $39.50 and come in a variety of unique washes. The company, which invests heavily in innovative fabric development, touts a unique “dry” fabric that feels comfortable during the summer.
Fast Retailing, the company that operates under the Uniqlo name, has set goals of group sales of 1 trillion yen, or $8.5 billion, and income of 150 billion yen, or $1.3 billion, by 2010.
In terms of overseas expansion, the company has been taking careful, deliberate steps. In September 2001, Uniqlo opened a store in London and a Shanghai unit bowed the next year. In January 2004, Fast Retailing took an equity stake in Theory to further its globalization program.
The company said one of its goals is to establish research and development centers in strategic locations around the world, recruit diverse talent and engage in world-class product development.
It has set up separate divisions for men’s, women’s and kid’s clothing, plus innerwear to allow Uniqlo to merchandise each classification more effectively.
The flagship will occupy a key piece of SoHo real estate next to Banana Republic in the OMG jeans space. In the last two years, Broadway has become the hottest retail stretch in SoHo. Real estate brokers said the arrival of Bloomingdale’s helped rekindle interest in the area. The Real Estate Board of New York said in its fall report that the asking rent for Broadway, between Houston and Broome Streets, rose 27 percent to $228 per square foot compared with the same period the previous year.