Uniqlo to open 2 new stores in Mumbai; Uniqlo, the Japanese clothing brand, is expanding its physical retail presence in India by opening two new stores in Mumbai.The stores will be located at Phoenix Marketcity and Oberoi Mall. Uniqlo's expansion into India is a sign of the growing demand for international fashion brands in the country.
Uniqlo currently has eight stores in Delhi NCR.
The company plans to open more stores in southern markets, such as Bengaluru, Hyderabad, and Chennai.Uniqlo is also increasing its local sourcing efforts to meet the 30% domestic sourcing requirement set by the Foreign Direct Investment (FDI) policy.
Background:
Fast Retailing, Uniqlo's parent company, reported a 22% increase in profit over nine months.The company also raised its full-year profit forecast to a new record.
