München – Rumors have been around for quite some time, now it’s a done deal: the Japanese fashion giant Uniqlo is opening a store in Munich. And in the very best location.
Uniqlo opens store in Munich: four floors with fast fashion
Uniqlo will occupy four floors in the longitudinal building of the Old Academy on Neuhauser Strasse. According to Signa Real Estate, the real estate company of the Austrian billionaire René Benko, a third of the retail space in the Alte Akademie is now leased to Uniqlo. The refurbishment of the historic row of buildings between Stachus and Marienplatz should be completed before the end of this year.
But what do you know about the hip clothing brand, apart from the fact that tennis star Roger Federer likes to wear it and that you can buy cheap and simple clothes?
Federer is arguably the brand’s most recognizable face worldwide – he switched from Nike to the Japanese outfitter in 2018. There are almost 2,000 stores worldwide (so far there are German branches in Berlin, Hamburg, Cologne, Düsseldorf and Stuttgart), so the brand is definitely a competitor for H&M & Co.
Uniqlo is managed by the second richest Japanese Tadashi Yanai and produces its goods mainly in China.
Uniqlo: Fashion cheaply produced in China
And the keyword China is also the reason why Uniqlo does not only write positive headlines: In June 2021, French law enforcement authorities launched an investigation because the factories of many fashion suppliers in the Chinese province of Xinjiang apparently employed Uyghur forced laborers. In addition to Uniqlo, the authorities also focused on brands such as Zara and New Balance.
Uniqlo’s parent company, Fast Retailing Group, issued a statement at the time saying it was aware of the reports but had a strict zero-tolerance policy on forced labor.
Old Academy: Uniqlo and Novartis are tenants
Recently, Uniqlo made headlines in Japan – albeit positive ones: The group had announced that it would increase wages for employees in Japan by a full 40 percent. This came after a request from Prime Minister Fumio Kishida to offset the rising cost of living.
Incidentally, in the Old Academy, Uniqlo will be next door to another global corporation: it was already announced in November 2021 that the Swiss pharmaceutical multinational Novartis would set up its German headquarters there: Novartis has rented 9,350 square meters of office space there.
In addition to Uniqlo and Novartis, there will be other retail and gastronomic offerings in the old academy, as well as 60 two-room apartments.
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