- The first store of the Uniqlo will open its doors to customers on October 4 making the formal India debut for the retailer.
Japanese clothing retailer Uniqlo made formal India debut on Thursday with the opening of its store in New Delhi.
The first store of the retailer will open its doors to customers on October 4, and in the next few weeks, two additional stores will be operational in the Delhi-NCR area.
Tadashi Yanai, Founder and Chairman, Uniqlo, and Chairman and CEO of the Fast Retailing Group, addressing reporters at a conference, said the plan to open multiple stores to mark the entrance of the company was the “test of our dedication” to the Indian market.
Stating that “21st century will be the century of India”, he said that the young talent of the country will have an important role to play in the future. He said that the company began recruiting in India at the end of last year and has been impressed by the ambitions and diligence of the young people in India.
Yanai said, “My interest in India goes beyond trade. India is a diverse market with many languages and ethnicities. Our emphasis will be on educating ourselves about Indian consumers. We aspire to improve Indian consumers ‘ lifestyles and contribute to the economic development of India.” He added that the company is keen to learn more about the Indian market and collaborate with Indian manufacturers.
On whether the company will be impacted by the current slowdown in India, he said he was not worried as economies are going through cyclical ups and downs.
Uniqlo is one of the main brands through the single-brand retail route that enabled its foray in India.
The brand also finalizes its e-commerce strategy and will soon be looking to have an online presence in the country, officials of the company added.
Before launching the store in India, The retailer previewed the collection to shoppers in India via its website with t-shirts for men starting at Rs. 490, pants for women starting at Rs. 1,490, formal men’s shirts were priced between Rs. 1,990 to Rs. 2,490. The brand’s iconic Ultra-light down vests jackets start at Rs. 3,490 and go up to Rs. 4,990. The website is not selling anything, it is just for the preview. The first 500 brand enthusiasts and shoppers on the opening date will receive UNIQLO T-shirts (UTs) of their personal choice, the company added in its statement.
Ambience Mall Vasant Kunj’s first Uniqlo store carries a total LifeWear line-up for men, girls, children, and infants. It will also have popular products such as ULD ( Ultra-light down) and Heattech garments. The first store is spread across a total retail space of 35,000 sq feet and is a large format store.
Uniqlo was founded by Billionaire Tadashi Yanai and is the third-largest retailer in the world, after Inditex and H&M. The brand has more than 3,445 stores all over the world, and India will surely prove to be a huge market for them. During the end of FY18, Uniqlo’s revenues, according to its own reports, were 2,130 Billion Yen.