Uniqlo India's Rs 1,000-Crore Ambition: Expansion and Growth in Focus

Uniqlo India aims to achieve a sales target of Rs 1,000 crore in the current fiscal by continuing a 30% annual growth rate through retail expansion. The company plans to increase local sourcing to 18% by 2025 and expand its store network, highlighting India's importance to parent company Fast Retailing Co.

Uniqlo India is targeting a sales milestone of Rs 1,000 crore in the present fiscal year, maintaining its impressive 30% annual growth trajectory, as announced by Chief Operating Officer Kenji Inoue. This growth strategy hinges on retail expansion and increased local sourcing.

Inoue emphasized India's vital role for its parent company, Fast Retailing Co., which achieved an annual revenue of 3 trillion yen and aims to triple this figure. Although India's market size remains relatively small globally, its potential is seen as significant for future growth.

Uniqlo, having commenced operations in India in October 2019, operates 13 stores and plans to open two more, including a new store in Mumbai. Within three years, Uniqlo India became profitable, reporting a revenue increase of 31% and aims for continued strong growth.

(With inputs from agencies.)