TOKYO, Aug. 5, 2013 /PRNewswire/ -- Fast Retailing Co., Ltd. today announces plans to establish J Brand Japan Co., Ltd., a new subsidiary company, to create and develop the J Brand business in Japan.
Details of the new subsidiary company are as follows:
1. Objective of the new subsidiary:
The new subsidiary company, J Brand Japan Co., Ltd, which is fully-owned by Fast Retailing Co., Ltd., will be tasked with creating the J Brand operations in Japan. In December 2012 Fast Retailing Co., Ltd. acquired majority control of J Brand Holdings, LLC (hereinafter "J Brand"). With its global headquarters in Los Angeles, California, J Brand is a leading contemporary fashion company with significant experience in women's and men's apparel, particularly in the premium denim category.
2. Outline for the subsidiary:
Company name: J Brand Japan Co., Ltd.
Representative: Makoto Hata, Fast Retailing Group Senior Vice President
Paid-in capital: 10 million yen
Shareholder composition: Fast Retailing Co. Ltd. 100%
Operations: Direct sales, through the opening and managing of J Brand stores, as well as sales and distribution of products through select retailers
Establishment date: September, 2013 (Planned)
Initial timeframe for commencing J Brand operations in Japan: Fall, 2013 (Planned)
3. Forecast:
The establishment of J Brand Japan Co., Ltd. will not have any impact on the quarterly or full year financial results for the fiscal year ending August 2013. The establishment of J Brand Japan Co., Ltd. is expected to have minimal impact on the quarterly and full year financial results for the fiscal year ending August 2014.
About J Brand and Fast Retailing
J Brand is part of the Fast Retailing Co., Ltd., a leading global Japanese retail holding company that designs, manufactures and sells clothing under seven main brands: Comptoir des Cotonniers, GU, Helmut Lang, J Brand, Princesse tam.tam, Theory, and UNIQLO. Founded in 2004 by Mr. Jeff Rudes, J Brand set out to create timeless, classic and sophisticated jeans with an emphasis on fit and the inspiration to make a woman look and feel beautiful in her jeans. In fall 2008, J Brand introduced a men's line, and in spring 2012, J Brand introduced a women's Ready-to-Wear collection. Its products are sold in over 2,000 specialty boutiques and luxury retailers in more than 20 countries worldwide.
With global sales of approximately 928 billion yen for the 2012 fiscal year ending August 31, 2012, Fast Retailing is currently the world's fourth largest apparel retail company. With a corporate statement committed to changing clothes, changing, conventional wisdom and change the world, Fast Retailing is dedicated to creating great clothing with new and unique value to enrich the lives of people everywhere. For more information about Fast Retailing, please visit www.fastretailing.com. For more information about J Brand, please visit http://www.jbrandjeans.com/.
For media queries, please contact: Fast Retailing, Corporate PR Department Aldo Liguori/Satsuki Shinnaka, Tokyo, Japan, Tel. +81 (0)3 6865 0960
