Japan-based holding company Fast Retailing Co. Ltd. (FR) — in partnership with
Bangladesh-based apparel manufacturer Ananta Group; Hong Kong-based fiber manufacturer Pacific
Textiles Holdings Ltd; and apparel manufacturer Crystal International Ltd., also based in Hong Kong
— will establish a joint venture company to operate apparel-related production plants in
CPAT (Singapore) Pte Ltd. will be based in Singapore, but will conduct all manufacturing
activities in Bangladesh, where it will set up both fabric and apparel manufacturing plants. The
joint venture company will tentatively be established in January 2009 and is scheduled to begin
operations by the end of 2009.
Because FR’s Japan-based operating company Uniqlo Co. Ltd. — an operator of retail stores
specializing in men’s and women’s casual clothing designed in-house — has grown and expanded
worldwide, FR is seeking to globalize its manufacturing structure by basing approximately one-third
of Uniqlo’s total production outside of China, thereby expanding its partner companies’ production
bases. The establishment of CPAT is part of FR’s globalization strategy.
FR also has reached a separate agreement to establish a joint venture between CPAT and
China-based Bros Eastern Co. Ltd., with the intention of setting up a spinning plant in Bangladesh.
December 16, 2008