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Japanese fashion retailer Uniqlo made its formal India debut on Thursday. The first store will be opened in New Delhi.
The retailer's first store will open its doors to customers on October 4, two additional stores will become operational in the Delhi-NCR region in the next few weeks. Addressing reporters at a briefing, Tadashi Yanai, Founder and Chairman, Uniqlo, and President and CEO of the Fast Retailing Group, said that the strategy to open multiple stores to mark the brand’s entry was the “hallmark of our commitment” to the Indian market. Stating that “21st century will be the century of India”, he said that the young talent of the country will have an important role to play in the future. He said that the company began recruiting in India at the end of last year and has been impressed by the ambitions and diligence of the young people in India.
The Uniqlo store in New Delhi
Replying to a query on expectations from Indian business, Yanai said, "My curiosity about India goes beyond just business. India is a diverse market with many languages and ethnicities. Our focus will be to educate ourselves about the Indian consumers. We aim to enhance the lifestyle of the Indian consumers and contribute to India’s economic development.” He added that the company was eager to learn more about the Indian market and work with Indian producers and strengthen its sourcing base in India. On whether the ongoing slowdown in India will impact the company, he said that he was not worried, as economies go through cyclical ups and downs. Uniqlo is among the key brands which have made their foray in India through the single-brand retail route. The brand is also finalising its e-commerce strategy, and will look at having an online presence in the country soon, the company officials added. The first Uniqlo store at Ambience Mall Vasant Kunj carries a full line-up of LifeWear for men, women, children and babies. It will also feature its functional and popular products such as ULD ( Ultra-light down) and Heattech garments. The first store is spread across a total retail space of 35,000 sq feet and is a large format store.
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