Fast Retailing appoints new global CEO for Theory

Fast Retailing has named James Kelly as global Chief Executive Officer of contemporary fashion brand Theory.

In this role, Kelly oversees Theory and Helmut Lang’s global headquarters, commercial operations and international growth initiatives, according to The Business of Fashion. He is based at Theory’s headquarters in New York.

He succeeds Dinesh Tandon, who has transitioned to the role of global co-Chief Operating Officer of Theory while also returning to his position as Chief Executive Officer of Theory China.

Kelly joined Theory in 2022 as US Chief Financial Officer before becoming global co-Chief Operating Officer in March 2025. During his time at the business, he has worked across finance, planning, procurement and business transformation in the US, UK and Europe, as well as helping to strengthen its direct-to-consumer business.

Before joining Theory, Kelly held a number of senior roles within Fast Retailing’s Uniqlo business. He was CFO of Uniqlo Canada from 2019 to 2022, where he led corporate planning, accounting, tax, treasury, logistics and procurement.

Prior to this, Kelly was Finance Director of Uniqlo USA and also worked in corporate planning for Uniqlo USA at Fast Retailing’s Tokyo headquarters.

He began his career at KPMG, where he worked in transaction services and restructuring, including international turnaround projects, cash and working capital management and business planning.

“James has been an instrumental leader for Theory over the past several years, bringing strategic vision, operational excellence and a deep understanding of our business,” said Kazumi Yanai, Chairman of Theory.

“As James assumes the role of global CEO and Dinesh focuses his leadership on one of our most important markets, we are further expanding our global organisation and positioning Theory for continued success around the world.”

The appointment comes as Fast Retailing continues to expand its international operations. In its latest trading update in July, the group raised its full-year operating profit forecast to ¥730bn, from ¥700bn, following strong third-quarter performance.

Uniqlo International led growth, with third-quarter revenue rising 33.8% year-on-year to ¥592.6bn. Europe was among the regions reporting improved performance, while Fast Retailing continues to expand its retail presence across the UK.

In the UK, Uniqlo is continuing its multi-city rollout, with a 24,000 sq ft store planned for Manchester’s Trafford Centre and a location in Cambridge later this year. Leeds is due to follow in 2027.