Report: Fast-fashion retailer heads to India
Uniqlo is preparing to plant some roots in India.
The Japanese fast-fashion retailer will open its first store in New Delhi by the middle of next year. It will be its first in in South Asia, according to CNN Money.
Uniqlo is focusing exclusively on expanding its presence in and around the Indian capital before considering opening stores in other parts of the country, according to the report.
The company’s expansion decision stemmed from the recent change to India’s foreign investment rules, announced in January, that allow single-brand retailers to establish their own stores in the country without government approval. Uniqlo will also have to follow government regulations that requires 30% of retail products to be sourced locally, CNN Money reported.
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