Japanese apparel brand UNIQLO opened its 18th store in India on Friday in Pune, marking a part of its nationwide expansion strategy. UNIQLO is a subsidiary of Tokyo-based Fast Retailing Co., which is the third-largest apparel retail company in the world. Among the eight brands in the Fast Retailing Group, UNIQLO holds the largest market share. The brand has a presence in NCR, Chandigarh, Mumbai, Bengaluru and now Pune.
The brand launched its first store in India in Gurgaon in 2020 and has since expanded to 18 locations. Kenji Inoue, the Chief Financial Officer and Chief Operating Officer of UNIQLO India, stated that India is viewed as a high-potential market, similar to Southeast Asia.
UNIQLO register 60% CAGR
The company has achieved a compound annual growth rate (CAGR) of 60% and has become profitable within three years. UNIQLO surpassed the ₹1,000 crore revenue mark in FY25, with a year-on-year growth rate of 44% and doubled its net profit to ₹178.4 crore, achieving a profit margin of 15%.
Future expansion will focus on metro cities, e-commerce, and increasing local sourcing from India. According to Inoue, the decision to open a physical store in Pune was influenced by the positive response to the UNIQLO brand through its online store. The company operates its own online store and is not available on any other e-commerce platforms. E-commerce sales for the brand in Pune increased by 163% this year, Inoue noted.
UNIQLO aims for global leadership
UNIQLO aims to secure the top position in the global apparel retail industry by establishing large-scale stores in some of the world’s most influential cities, as part of its ongoing effort to solidify its status as a global brand. The company’s expansion plans include initiatives in Japan, Asia, Europe, and North America.