16 December 2024, Mumbai
Uniqlo India plans to double its store count from the current 15 to 30 in about three years. The fast fashion brand also plans to increase its online contribution from the current 15 per cent to over 25 per cent in the same duration. The brand recently launched its biggest store in Mumbai recently with Kareena Kapoor, brand ambassador.
Uniqlo contributes 60 per cent to its parent’s worldwide sales with India being a small contributor to the global sales. Growing at a 25-30 per cent CAGR per annum, the brand plans to touch Rs 1,000-crore in sales in FY25. Its net profit increased by 25 per cent Y-o-Y during the year to Rs 85.1 crore as per data from the Registrar of Companies (RoC).
Uniqlo focuses on the fabrics materials in all its collections. The retailer also ensures its garments remain durable and wearable over a long period of time, says Mukesh Kumar, Retail Expert and Previous Head, Infiniti Mall, Mumbai and Quest Mall, Kolkata. The brand has launched collections such as Heattech which provides light winter clothing or the AIRism collection.
According to Devangshu Dutta, Retail Expert, Third Eyesight, having priced its products affordably, Uniqlo has been focusing on sustainability all along. In the coming years, the brand needs to increase its marketing expenditure as it plans to expand in India and acquire new consumers. At the recently concluded Arigato or Thank You Sale, which coincided with the popular Black Friday weekend across the world including India, Uniqlo reduced the prices on some of its bestselling products, offering sharp discounts and increasing the marketing quotient both in stores and on digital platforms.
