Uniqlo India is preparing for significant growth, aiming to almost triple its revenue to ₹3,000 crore over the next two to three years. This ambitious target will be achieved through expanding its retail footprint and boosting online sales. Currently, Uniqlo operates 16 stores across the country and plans to open two more soon in Bengaluru and Pune to strengthen its presence in southern and western India.
Kenji Inoue, CFO and COO of Uniqlo India, shared that their revenue crossed ₹1,000 crore in the last fiscal year, marking a 44% increase. Their profits also more than doubled, reaching ₹178 crore, highlighting strong profitability. Uniqlo’s success in India showcases a compound annual growth rate of nearly 60% since entering the market in 2019, with profitability achieved within just three years.
Local sourcing is a key focus for Uniqlo India as part of its growth strategy. Presently, around 15%-16% of its products are sourced domestically, but the company plans to double this to 30%. This move aligns with its goal of supporting Indian suppliers and embedding itself further in the local supply chain, though some products require specific technology and scale, making complete localization challenging.
The company continues to adapt its product range to Indian preferences by localizing styles and colors, which has helped it compete with other international brands like Zara and H&M, as well as various local players. Uniqlo’s online sales contribute about 15% of total revenue, and the company aims to accelerate growth in e-commerce alongside physical stores.
India is one of Uniqlo’s fastest-growing markets and plays a strategic role in the parent company Fast Retailing’s global ambition to reach 10 trillion yen in sales. Rather than rapid expansion everywhere, Uniqlo plans focused growth in key markets where customer demand is strong.
With solid financial performance, retail expansion, and increased local sourcing, Uniqlo India aims to become a major player in the country’s retail apparel sector in the coming years.
