Uniqlo plans to accelerate store openings in India, especially in the southern states, as the Japanese apparel maker seeks faster growth and greater market share by targeting more affluent shoppers in the world¡¯s most-populous country.
¡°There¡¯s big space for us to grow in this market,¡± Kenji Inoue, chief operating officer and chief financial officer of Uniqlo India, said in an interview. There¡¯s potential to expand its market share by tenfold, as India is recognized to be ¡°an extremely important market for our group,¡± he said. Uniqlo parent Fast Retailing has a current market share of less than 2% in India.
Uniqlo, which has a larger presence in northern India, is working to expand its supply chain in the country¡¯s warmer southern states. It will focus on promoting its linen clothing range ¡ª better suited for the region¡¯s tropical weather ¡ª and AIRism line with cooling fabrics. With fewer and milder winter months, the region offers limited demand for Uniqlo¡¯s HEATTECH line.
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