Uniqlo plans “unlimited” investment in India; new
stores in the pipeline
Uniqlo sets eyes on India as it anticipates that the country
will surpass China and Japan to become the largest market in the
coming decade and also a sourcing base for Asia’s largest
Tadashi Yanai, Founder and CEO of Fast Retailing, which owns
Uniqlo, said in an interview that India could be ‘number one and
the most exciting market in the world’ though he failed to give
a time frame for that.
He added that Uniqlo aspires to be the ‘best selling retailer in
“Indian market has 1.3 billion people and millions of them are
getting qualified as a part of the middle class…this is the
fact,” said Yanai, the richest Japanese businessman with a
personal wealth of about US $ 30 billion. He further said “The
budget is unlimited when it comes to investment (in India) and
there is no capping.”
Uniqlo plans to tap the growing e-commerce route in India ‘as
soon as possible’.
Yanai is a member of Softbank’s board, where he was a part of
the decision to sell their stake in Flipkart to Walmart.
Therefore, he is well versed with the Indian e-commerce market.
Uniqlo operates over 2,200 outlets globally in more than 20
countries including China, the US, Europe, Australia and
Southeast Asia, and the Tokyo listed Fast Retailing reported
revenues of US $ 19 billion and profit of US $ 1.4 billion for
The fast fashion brand plans to roll out its first store in
India in the New Delhi region later this year. Mall executives
said Uniqlo is opening stores in Ambience Mall in Vasant Kunj,
DLF Place Mall in Saket and in Mall of India in Noida besides a
smaller version outlet in CyberHub in Gurugram.