How Uniqlo - The Japanese Clothing Giant That May Buy J.Crew - Is Taking Over The World

Japan's Fast Retailing is in talks to purchase J. Crew for as much as $5 billion, according to the Wall Street Journal.

Fast Retailing is the parent company of Uniqlo, which has exploded in the past decade, becoming Asia's biggest clothing retailer. And its leaders have ambitious goals to make the brand the leader in retail worldwide.

Uniqlo, which focuses on mass-producing affordable basics in dozens of colors, got its start in the Japanese suburbs. Less than 20 years later, it's laid its stake along swanky shopping streets in major global cities.

What's the story behind the company's success?

Additional reporting by Megan Durisin.