Uniqlo considers Gap expansion

Tadashi Yanai, the Japanese entrepreneur behind Fast Retailing Co, owner of the Uniqlo clothing brand, has fuelled speculation he will bid for rival retailer Gap by saying it was not “a crazy idea”. Previous acquisitions eyed by Yanai include US department store Barney’s and Hong Kong’s Giordano chain, though both ended up falling flat. Yanai aims to build his group into the world’s biggest clothes retailer, with annual sales of 5 trillion yen (£34bn).