“The Indian market is Uniqlo’s top priority”, Tadashi Yanai, chairman and chief executive officer of Japan’s Fast Retailing Co., the operator of the casual apparel chain, said.
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Yanai made the comments at a press conference in New Delhi, where Uniqlo plans to open a store, its first in India.
“I have been waiting for a long time to open a store in India, where rapid development is expected, with its large population of 1.3 billion and many young people,” Yanai said.
“We want to learn from Indian people’s diligence and the country’s history,” he said, noting the country’s history of textile and clothing manufacturing.
Uniqlo plans to open second and third stores in India later this year. They will be located near New Delhi, Yanai said.
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It is expected to build a new factory or acquire an existing one in India to achieve its goal of producing over 30 percent of its products sold in India domestically in the next five years.
(Source: Japan News)