22-05-2025
Billionaire Behind Uniqlo Just Made a $339M Power Play in Milan--Is This the Next Retail Gold Rush?
Uniqlo's billionaire founder just dropped $339 million on a building in the heart of Milanwhere the brand already operates its flagship store. Tadashi Yanai, the man behind Fast Retailing (FRCOY), is acquiring the 161,000-square-foot Cordusio 2.0 building, a 19th-century structure situated just steps from the iconic Piazza Duomo. According to people familiar with the deal, the property has been under Uniqlo's roof since 2019 and was previously owned by U.S. real estate giant Hines. Fast Retailing hasn't commented on the transaction, but sources suggest this could be a long-term play to secure retail dominance in one of Europe's hottest shopping zones.
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Milan isn't just fashionit's turning into a serious battleground for real estate power plays. Kering, parent of Gucci, shelled out 1.3 billion last year for a spot on Via Monte Napoleone, the city's most expensive shopping street. Yanai's move could be read as a signal: the world's biggest apparel players aren't just leasing anymorethey're planting flags. Starbucks made a similar bet when it chose this very squarePiazza Cordusiofor its first store in Italy. As Milan's historic blocks get a modern facelift, high-profile investors are starting to look at these addresses less like short-term retail leases and more like trophy assets.
What makes this deal worth watching? Timing and positioning. Milan has been quietly reinventing itselftransforming faded neighborhoods into prime luxury districts. Yanai, with a net worth near $50 billion, may be positioning Fast Retailing for deeper European penetration just as competition for premier space heats up. While details remain private, the move could offer Fast Retailing strategic leverage in both branding and asset appreciation. If the trend continues, Milan may no longer just be the runwayit could be the asset class.
This article first appeared on GuruFocus.
