Fast Retailing, the Japanese company that owns the Uniqlo chain, has made an unsolicited $900 million cash bid for Barneys New York.

Jones Apparel Group had agreed two weeks ago to sell Barneys to the investment arm of the Dubai government, Istithmar, for $825 million. The deal with Istithmar allows Jones, which also owns Anne Klein, Jones New York, and Nine West, to consider higher offers before July 22. Jones would pay Istithmar a breakup fee of $20.6 million if it accepts another offer.

If Fast Retailing's offer is accepted, the company would secure a high-end-fashion retail presence in the United States at the same time that it has landed an American flagship of its Uniqlo chain. Uniqlo ( pronounced you-KNEE-coo-low) has 750 stores in Japan and is known for its inexpensive casual clothes. The retailer opened its first store in Manhattan in November.

Fast Retailing, which has annual sales of $3.7 billion, also owns the Theory, Comptoir des Cotonniers, and Princesse tam.tam brands. The company said in a statement that it “sees potential top-line synergies in having Barneys as a member of its global retailing group.” It also said that it had told Jones Apparel of its interest in Barneys last fall.

The new interest in Barneys is something of a turnaround from a year ago, when Jones Apparel stopped an auction of the chain. Jones bought Barneys in 2004 for $400 million.