BEING FASTIS not Uniqlo's strong suit. But in India it is racing against time. After two false starts - first it postponed its India entry in 2017 citing lack of good retail space and then it had to yellow light its roll out plan in 2019 as the Covid pandemic brought everything to an abrupt halt - the Japanese fashion retailer is ready to step on the gas.
The reason is not far to seek. After four years of entering India and with 12 stores in the country, Fast Retailing's Uniqlo brand has seen a 60% jump in sales in India. According to filings with the corporate affairs ministry, it posted 68.3 crore in profit for the year ended March 31, 2023, on revenue of ₹624 crore.
It is equally a fact that Uniqlo has been a late entrant in the world's most populous country, having opened its first India store almost a decade after the entry of many of its global competitors who have already built a retail network that spans the country. Meanwhile, Uniqlo remains confined largely to the north (seven stores in the Delhi NCR region, one store each in Chandigarh, Lucknow, Zirakpur, and the recently inaugurated two in Mumbai).
Bu hikaye Financial Express Mumbai dergisinin October 30, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin October 30, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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