Fast Retailing, the owner of Japan’s fastest growing fashion chain Uniqlo, has confirmed it will be opening its first store in Australia by the end of August 2014.

Fast Retailing said it plans to establish its headquarters in Melbourne by December that will be known as Uniqlo Australia. This full-owned subsidiary will oversee the opening and managing of Uniqlo stores in Australia.

According to the company, the impact of establishing the Australian subsidiary on Fast Retailing's consolidated and non-consolidated performance for the year ending August 2013 is expected to be minimal.

Uniqlo currently has over 275 stores located across Asia, UK, Europe and the United States.