While Fast Retailing is currently looking for suppliers in India, its flagship brand Uniqlo may open a thousand stores in the country, over the next ten years.
Uniqlo has recently launched its new Paris flagship
That’s according to Times of India. Sources familiar with the matter told the newspaper that during the recent visit of the brand’s CEO Tadashi Yanai, he discussed this development with the new Indian Prime Minister Narendra Modi.
India is a large consumer market in the making. Valued at 58 billion dollars per year, the domestic textile and apparel market is expected to reach 141 billion dollars by 2021. Clothing giants such as Zara, Gap and recently H&M have successively made inroads into the country.