Yahoo Finance Uniqlo’s Sister Brand, GU, to Open SoHo Flagship and Online Store This Fall
GU, the Japanese apparel retailer and sister brand of Uniqlo, is setting up a permanent shop at 578 Broadway in SoHo this fall. The brand has had a 2,900-square-foot pop-up store in SoHo since 2022, which is scheduled to close this summer.
The new flagship will offer women’s and men’s clothing across two floors, as well as shoes, bags and accessories. While Uniqlo is known for its high-quality basic apparel, GU is lower-priced and more trend-driven.
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GU will also open an online store with the same product lineup as the physical store that will launch simultaneously. GU’s retail prices range from $4.90 to $99.90.
With a sales floor of 10,225 square feet, GU NY SoHo will be a showcase for the GU brand concept.
“For about a year and a half since opening our first pop-up store in the U.S. in the fall of 2022, we have been able to provide GU products to many customers, so we have great expectations for our business development in the U.S.,” said GU CEO Osamu Yunoki. “We have applied what we learned from the pop-up store to establish a framework for product development and business operations at a global level, and we are extremely pleased to be officially opening a store in the U.S. this fall. We will also launch our online store at the same time, and hope that even more customers will enjoy GU fashion.”
The New York pop-up experienced success after they optimized the product mix and adapted to local needs.
GU (pronounced as the letters “G” and “U”), was established in 2006 as a sister brand of Uniqlo, and currently operates about 470 stores in Asia, mainly in Japan. This is the first official opening of a permanent store outside Asia. In September 2023, GU established a product division in New York to promote product development at a global level.
GU’s fiscal year 2023 revenue and profit increased considerably, with revenue totaling $1.89 billion (U.S.), up 20 percent, and operating profit reaching $166 million, up 56.8 percent, according to Fast Retailing. GU opened 52 new stores in fiscal year 2023, primarily in Japan.
Going forward, GU will strengthen local recruitment of designers, pattern makers and other positions to establish a product development base, aiming for further business expansion.
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