Uniqlo India saw a big increase in profit, going up by 25 per cent to Rs. 85.1 crore for the fiscal year 2024. However, its sales growth slowed down to 32 per cent, with total revenues reaching Rs. 7,824 crore. Despite tough market conditions, Uniqlo plans to expand by opening smaller stores in both current and new cities across India.
Since opening its first store in September 2019, Uniqlo faced delays due to the Covid-19 pandemic. Now, it has around 13 stores in the country. The overall retail market in India has been slow, with segments like clothing, footwear, and quick service restaurants seeing a drop in growth compared to last year.
Uniqlo is known for its simple, long-lasting clothing like T-shirts and jeans. The brand sees India as a key market, with more consumers moving away from fast fashion to durable, functional wear. India, being the world’s second-most populated country, offers a huge market, especially with more young people adopting western-style clothing.
