STOCK MARKET BSE NSE

UNIQLO to kick off India journey with three stores in Delhi-NCR, starting October

The first UNIQLO store will be in South Delhi at Ambience Mall, Vasant Kunj spread over 35,000 square feet.

Published: 17th July 2019 04:36 PM  |   Last Updated: 17th July 2019 04:36 PM   |  A+A-

UNIQLO Ambience Mall, Vasant Kunj

UNIQLO Ambience Mall, Vasant Kunj (Photo | UNIQLO website)

By PTI

NEW DELHI: Japanese global apparel retailer UNIQLO Wednesday announced its plans to make a foray into the Indian market and will open three stores in the first year in Delhi-NCR.

Given the size and fast growth of the Indian market, the launch will involve three separate stores.

The first of the three UNIQLO stores will open in October in New Delhi, the company said in a statement.

"We are committed to the Indian market and are very excited to be launching our first three stores in Delhi, a region that embraces diversity and culture, from art and design to craftsmanship and fashion," UNIQLO Founder and Chairman, President & CEO, Fast Retailing Tadashi Yanai said.

The first store will be in South Delhi at Ambience Mall, Vasant Kunj spread over 35,000 square feet.

The second one will be at DLF Place Saket, also in South Delhi while the third store will be located at DLF CyberHub in Gurugram, UNIQLO said.

The opening of the three stores represents a significant step in in the company's global strategy, Yanai said.

"We look forward to offering our high-quality, affordable LifeWear apparel to the people of India," he added.

The company's announcement to start operations in India comes after the country allowed 100 per cent FDI in single-brand retail, although foreign retailers still need to source 30 per cent of their products from local suppliers, preferably medium and small enterprises.

In 2006, the government had allowed 51 per cent FDI in single brand retail.

In January 2018, 100 per cent FDI was permitted for foreign players in single brand retail trade to set up own shops in India without government approval.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp