Uniqlo India set to open first three stores
Uniqlo India is counting down to the launch of its first three stores in India.
The Japanese fast-fashion retailer first announced plans to open in India in late 2017 and it has taken more than 18 months to secure necessary approvals, locations and prepare operations.
The stores will open in Delhi-NCR, with the first 35,000sqft outlet due to start trading in three months’ time. The move is part of the brand’s global strategy to gain ground on rival brands Zara and H&M.
“The opening of our first store, Uniqlo Ambience Mall Vasant Kunj, followed by a second and third store a little later represents a significant step in our company’s global strategy,” said Uniqlo founder and Fast Retailing chairman, president and CEO Tadashi Yanai.
A Uniqlo India spokesperson added: “Given the size and fast growth of the Indian market, the launch will for the first time involve three separate stores to be able to offer LifeWear to as many people as possible”.
“We have to do the best price point based on our quality,” said the firm’s head of research & development Yuki Katsuta. “I have confidence in our price and also our value. Of course, we know, maybe our price point is slightly more expensive than your local market. People feel that it’s a little bit more expensive to what they’re used to buying. But at the same time, we have confidence that once they buy it we don’t let them down.”
Uniqlo India has been helped by the government’s relaxation of sourcing restrictions for single-brand retailers, which currently stand at 30 per cent mandatory local sourcing.