Fast Retailing Co.’s Uniqlo brand will be scouting for more manufacturing partners in India to rapidly expand its operations after seeing a 60 per cent jump in sales in the country.
“Our production in India has already started exporting to other countries. We are looking at expanding our partnerships with factories and mills,” Tomohiko Sei, chief executive officer of Uniqlo India, told reporters in Mumbai as he inaugurated Uniqlo’s first store in the city.
According to Sei, the Japanese clothing giant is currently collaborating with around 20 sewing facilities and mills in India, which has allowed it to comply with the federal government’s mandate that at least 30 per cent of its inventory come from local sources.
With 11 stores now operating in India, Uniqlo, which launched its first location there in 2019, intends to establish a second location in Mumbai later this month. According to documents filed with India’s corporate affairs ministry, it reported a profit of Rs. 683 million (US $ 8.2 million) for the year ended 31st March on revenues of Rs. 6.24 billion, an increase of 60 per cent over the same period last year.
