New Delhi: Japanese apparel major Uniqlo is targeting ₹3,000-crore annual sales in India in the next three years after achieving the ₹1,000-crore milestone in FY25, Kenji Inoue, CFO and COO at Uniqlo India, told ET.
India is the fastest-growing market for Uniqlo and is crucial for its parent Fast Retailing‘s global ambition of becoming a ¥10 trillion, or about $67.8 billion, company in the near future, up from ¥3 trillion currently.
Inoue said the firm’s profit after tax for FY25 more than doubled to ₹178.4 crore, reflecting a 15% PAT margin, while its revenue grew 44%. “We would like to maintain this kind of high growth,” he said.
Uniqlo operates 16 stores in India and plans to take that number to 30 in the near future. It sources around 15% of products in the country and plans to take that number to 30%.
“We want to reach that number as early as possible,” Inoue said.
“To increase the local sourcing, we are looking into each product category, as some of the items,, cannot be manufactured in India.”
“To increase the local sourcing, we are looking into each product category, as some of the items, due to raw material restrictions, cannot be manufactured in India.”
