Companies

Uniqlo India’s losses down by 43% at ₹36 crore

Our Bureau Mumbai | Updated on October 20, 2021

FILE PHOTO   -  REUTERS

The company’s total expenses for the fiscal were reported as ₹275 crore

Uniqlo India Private Limited has reported a 86 per cent jump in its revenue at ₹239 crore for the financial year 2020-21. The company has reported a net loss of ₹36 crore during the same fiscal. This is a 43 per cent decrease from the last financial year.

According to financial data accessed by business intelligence platform, Tofler, the company’s total expenses for the fiscal were reported as ₹275 crore. Uniqlo is a Japanese clothing brand company with global headquarters in Tokyo, Japan.

“During the financial year under review, in order to scale up the business and cater to more customer base which would be prospectively advantageous to the overall interest of the Company, it was intended to start off and have online e-commerce on board,” the company said in its regulatory disclosure.

Earlier, the company used to operate only physical retail stores. So far, Uniqlo has opened half a dozen outlets in the National Capital Region (NCR). It further plans to open a store in Mumbai.

Published on October 20, 2021

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