Fast Retailing Eyes Purchase of J. Crew in $5B Deal

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March 3 (Bloomberg) -- Bloomberg European business correspondent Caroline Hyde reports that Uniqlo parent Fast Retailing is looking at a potential $5 billion deal to purchase J. Crew on Bloomberg Television’s “On The Move.”

European correspondent, caroline hyde.

It will come with a hefty bisected $5 billion.

That is what people are speculating what j. crew could be worth.

We know it is looking to be offloaded by two private equity holders, currently held by tbg capital.

There are options, other people sniffing around j. crew.

Abbott international, or they could sell shares.

What they are reporting is of the owner of the biggest producer of clothing in asia could be fighting it to get more into the united states.

It is interesting because they are a cheaper outfit.

This is more aspirational.

Once again, the aspirational younger shopper.

They would continue to operate as to separate unique brands.

Supper businesses.

It does not seem to be very clear but they have taken over slightly higher and names.

Upmarket jeans.

It is all about the richest man in japan, the owner of fast retailing, the ambition to drive the company forward.

He wants to get ahead of hmm.

He wants to be the -- he wants to be the biggest in the world could get this -- quadruple sales by 2020. he wants the united states to make up a 1/5, 20% of his sales by 2020 and overseas sales to exceed those in japan.

And already they have 500 stores, just above that, overseas.

300 a year he wants to open overseas.

This is phenomenal aspirations.

Germany, australia, these are the countries where he wants to make forays into.

And going more glitzy as well.

They have been opening stores in shanghai, fifth avenue, new york did and for a japanese company, also looking to have english as an official language.

Very un-japanese.

Getting the president of juicy couture in and hiring.

Thank you very much, indeed.

This text has been automatically generated. It may not be 100% accurate.

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