Fast Retailing appoints new chief of Uniqlo Europe, Princesse Tam Tam and Comptoir des Cotonniers
Fast Retailing's management is changing: the Japanese group has appointed one of its executives Taku Morikawa as chief of Uniqlo Europe, Princesse Tam Tam and Comptoir des Cotonniers. The two French brands are often seen as indicators of the performance of the Japanese group's flagship brand, Uniqlo.
Taku Morikawa succeeds Takao Kuwahara, who was appointed as head of the two labels in early 2016, having already taken on the role of CEO of Uniqlo Europe in September 2015 after the departure of Berndt Hauptkorn. Taku Morikawa was previously chief of Fast Retailing South-East Asia and Oceania, having already helmed the brand's Russian division.
When the Japanese group published its last annual results, it indicated that Princesse Tam Tam had suffered an operating loss and that Comptoir des Cotonniers – which has returned to its roots in terms of styling – had seen a decrease in its sales during the period. Overall, Fast Retailing's turnover increased by 4.2% in 2016/17, reaching 861 billion yen (around 14 billion euros). The founder of the group, Tadashi Yanai, will step down as CEO in 2019.
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