Uniqlo plans 15 new stores by Nov-end: Nidhi Rastogi, Marketing Director
21 November 2024, Mumbai
Japanese fashion brand Uniqlo, which entered India in Oct’19 with a store in Ambience Mall, Delhi, plans to open 15 new stores by Nov-end. The brand will open one store each in Mumbai and West Delhi, notes Nidhi Rastogi, Marketing Director, Uniqlo India.
Across India, Uniqlo currently has 13 stores with most of these located in Delhi-NCR, with additional locations in Mumbai, Chandigarh, and Lucknow. The brand currently has three stores in Mumbai with the third having opened in November. It plans to soon open a new store in Delhi. .
Uniqlo recently also partnered with bollywood actors Kareena Kapoor Khan and Sidharth Malhotra for their Fall 2024 campaign. The company claims to spend 50 per cent of its marketing budget on digital channels, with the remaining 50 per cent allocated to print, cinema, OOH (out-of-home), and in-store marketing.
A report by business intelligence platform Global Growth Insights reveals, valued at $192.3 billion in 2023, India’s streetwear market is projected to reach $199.22 billion in 2024, with further growth expected to touch $264.4 billion by 2032, exhibiting a CAGR of 3.6 per cent during the forecast period of 2024-2032. As per another news report, the streetwear market in India is expected to be worth Rs 5.3 lakh crore in 2023, while the apparel market in India is also projected to reach $105.5 billion in 2024.
