Japanese casual fashion chain Uniqlo made its debut in India on Friday, with the opening of a store in New Delhi heralding a new chapter in its global expansion.
Tadashi Yanai, chairman, president and chief executive officer of Fast Retailing Co., said Thursday at the store in Ambience Mall, Vasant Kunj, that -- with a sales area of about 3,300 square meters -- it is one of the chain's largest sites in the world.
He said Fast Retailing, the operator of Uniqlo stores, has long craved a presence in India to tap market potential in a country of 1.3 billion people, which generates annual gross domestic product growth of around 7 percent.
"We will open two more stores soon in Delhi NCR (National Capital Region), underlying our commitment to the Indian market and a major step forward for our global business expansion," Yanai told reporters.
A spokesperson for Uniqlo India Pvt. Ltd., a wholly owned subsidiary, said the company is sourcing most of its products from countries such as Vietnam, China and Bangladesh, but may explore the possibility of setting up its own factory in India. (NNA/Kyodo)
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