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Business Times
23-05-2025
- Business
- Business Times
Uniqlo founder Tadashi Yanai to buy 300 million euro Milan building
[TOKYO] Uniqlo founder Tadashi Yanai has agreed to buy a building in Milan's Piazza Cordusio where the brand's flagship store is located. The Japanese billionaire will pay more than 300 million euros (S$437.5 million) for the 19th century building in the city's central square, people familiar with the transaction said, asking not to be identified because the details are private. The 161,000-square-feet structure, called Cordusio 2.0 – acquired by Hines in 2016 – has been home to Uniqlo's store since 2019. Yanai's net worth is about US$50 billion, according to the Bloomberg Billionaires Index. Milan's property sector has seen a renaissance in recent years as revitalisation projects have helped transform several run-down neighbourhoods into upscale landmark zones. Last year, Gucci owner Kering SA spent 1.3 billion euros for a property on Milan's Via Monte Napoleone, its toniest shopping street. Piazza Cordusio, close to Piazza Duomo, is also the location Starbucks chose for its first outlet in Italy. A representative for Fast Retailing, Uniqlo's owner, was not immediately able to comment, while a Hines spokesperson declined to comment. Green Street News reported the deal earlier on Thursday. BLOOMBERG
Fashion Network
22-05-2025
- Business
- Fashion Network
Japanese tycoon Yanai buys Uniqlo building in Milan for $339 million, source says
Home › News › Retail Download Print The family office of Japanese billionaire Tadashi Yanai, founder and chief executive of Uniqlo operator Fast Retailing, has agreed to buy a building in Milan for about 300 million euros ($339 million), a source close to the matter said on Thursday. Uniqlo founder Tadashi Yanai has agreed to purchase the building that houses the brand's flagship store in Milan's Piazza Cordusio. - Reuters Yanai, Japan's richest man, is buying the building from U.S. property firm Hines, the source added. Hines declined to comment. Yanai could not immediately be reached for comment. A representative for Fast Retailing Co., Uniqlo's owner, could not immediately comment. The 19th-century building is in Milan's central Piazza Cordusio, where Uniqlo's flagship store has been since 2019. The 161,000-square-foot structure, called Cordusio 2.0, was acquired by Hines in 2016 and renovated. It stands across from the city's Starbucks Reserve Roastery and near Milan's main Duomo Square. JLL advised Yanai. The real estate and investment management services firm confirmed it worked as an adviser for a family office involved in the transaction, without giving further sale was first reported by Green Street News, which said that Yanai had recently also bought a Uniqlo-occupied building in Amsterdam and another one in London. Milan's property sector has seen a renaissance in recent years as revitalization projects have helped transform several run-down neighborhoods into upscale landmark zones. Last year, Gucci owner Kering SA spent 1.3 billion euros for a property on Milan's Via Monte Napoleone, its toniest shopping street. ($1 = 0.8855 euros) with Reuters and Bloomberg © Thomson Reuters 2025 All rights reserved. Tags : Fashion Ready-to-wear Fashion Retail Business
Fashion Network
22-05-2025
- Business
- Fashion Network
Japanese tycoon Yanai buys Uniqlo building in Milan for $339 million, source says
The family office of Japanese billionaire Tadashi Yanai, founder and chief executive of Uniqlo operator Fast Retailing, has agreed to buy a building in Milan for about 300 million euros ($339 million), a source close to the matter said on Thursday. Yanai, Japan's richest man, is buying the building from U.S. property firm Hines, the source added. Hines declined to comment. Yanai could not immediately be reached for comment. A representative for Fast Retailing Co., Uniqlo's owner, could not immediately comment. The 19th-century building is in Milan's central Piazza Cordusio, where Uniqlo's flagship store has been since 2019. The 161,000-square-foot structure, called Cordusio 2.0, was acquired by Hines in 2016 and renovated. It stands across from the city's Starbucks Reserve Roastery and near Milan's main Duomo Square. JLL advised Yanai. The real estate and investment management services firm confirmed it worked as an adviser for a family office involved in the transaction, without giving further details. The sale was first reported by Green Street News, which said that Yanai had recently also bought a Uniqlo-occupied building in Amsterdam and another one in London. Milan's property sector has seen a renaissance in recent years as revitalization projects have helped transform several run-down neighborhoods into upscale landmark zones. Last year, Gucci owner Kering SA spent 1.3 billion euros for a property on Milan's Via Monte Napoleone, its toniest shopping street. ($1 = 0.8855 euros) © Thomson Reuters 2025 All rights reserved.
Fashion Network
22-05-2025
- Business
- Fashion Network
Japanese tycoon Yanai buys Uniqlo building in Milan for $339 million, source says
The family office of Japanese billionaire Tadashi Yanai, founder and chief executive of Uniqlo operator Fast Retailing, has agreed to buy a building in Milan for about 300 million euros ($339 million), a source close to the matter said on Thursday. Yanai, Japan's richest man, is buying the building from U.S. property firm Hines, the source added. Hines declined to comment. Yanai could not immediately be reached for comment. A representative for Fast Retailing Co., Uniqlo's owner, could not immediately comment. The 19th-century building is in Milan's central Piazza Cordusio, where Uniqlo's flagship store has been since 2019. The 161,000-square-foot structure, called Cordusio 2.0, was acquired by Hines in 2016 and renovated. It stands across from the city's Starbucks Reserve Roastery and near Milan's main Duomo Square. JLL advised Yanai. The real estate and investment management services firm confirmed it worked as an adviser for a family office involved in the transaction, without giving further details. The sale was first reported by Green Street News, which said that Yanai had recently also bought a Uniqlo-occupied building in Amsterdam and another one in London. Milan's property sector has seen a renaissance in recent years as revitalization projects have helped transform several run-down neighborhoods into upscale landmark zones. Last year, Gucci owner Kering SA spent 1.3 billion euros for a property on Milan's Via Monte Napoleone, its toniest shopping street. ($1 = 0.8855 euros)
Fashion Network
22-05-2025
- Business
- Fashion Network
Japanese tycoon Yanai buys Uniqlo building in Milan for $339 million, source says
The family office of Japanese billionaire Tadashi Yanai, founder and chief executive of Uniqlo operator Fast Retailing, has agreed to buy a building in Milan for about 300 million euros ($339 million), a source close to the matter said on Thursday. Yanai, Japan's richest man, is buying the building from U.S. property firm Hines, the source added. Hines declined to comment. Yanai could not immediately be reached for comment. A representative for Fast Retailing Co., Uniqlo's owner, could not immediately comment. The 19th-century building is in Milan's central Piazza Cordusio, where Uniqlo's flagship store has been since 2019. The 161,000-square-foot structure, called Cordusio 2.0, was acquired by Hines in 2016 and renovated. It stands across from the city's Starbucks Reserve Roastery and near Milan's main Duomo Square. JLL advised Yanai. The real estate and investment management services firm confirmed it worked as an adviser for a family office involved in the transaction, without giving further details. The sale was first reported by Green Street News, which said that Yanai had recently also bought a Uniqlo-occupied building in Amsterdam and another one in London. Milan's property sector has seen a renaissance in recent years as revitalization projects have helped transform several run-down neighborhoods into upscale landmark zones. Last year, Gucci owner Kering SA spent 1.3 billion euros for a property on Milan's Via Monte Napoleone, its toniest shopping street. ($1 = 0.8855 euros)
