Japanese retailer Uniqlo plans to enter the Scandinavian market and open a store in Sweden, where one of the main competitors of Uniqlo –H&M is currently headquartered, reports gotoMall.ru.

Officially, the first department store Uniqlo is scheduled to open in Stockholm in the third quarter of this year. Today, the network, which has a very strong position in the main Asian markets, unites 70 outlets in European countries, of which more than 20 operate in Russia.

In connection with the new opening, the company's revenue is projected to grow by at least 37%. Earlier, the management of Uniqlo announced plans to become a leader in the global fashion market. Over the past period of the first quarter of 2018, sales of Uniqlo increased by 32%, with international sales surpassing revenue in Japan.

At the end of 2017, the global Uniqlo network united 1,800 stores successfully operating in 18 countries.