Japanese fast fashion retailer aims to be India’s top fashion retailer
03 July 2023, Mumbai
Uniqlo, a Japanese success story, gained fame for its simplicity, in 1990s since its launch in 1949.
Impressive Sales Growth
It revolutionized the Japanese market by popularizing affordable fleeces, previously expensive and unfashionable, making them accessible to the masses.
Global Presence Seeking New Markets
Now, Uniqlo seeks to expand beyond China, where sales have been lacklustre due to Covid-19. In Asia, sales outside Japan and China surged by over 70% in six months, with operating profits up by 48%. Uniqlo aims to become India's best-selling retailer, capitalizing on the country's consumption market and reducing reliance on China.
Showcasing competitive garment manufacturing
Automation and artificial intelligence are transforming Uniqlo's manufacturing processes, while India's young workforce makes it an attractive destination for garment manufacturing.
The Indian government may support Uniqlo's expansion, creating jobs and boosting domestic consumption and investment.
