Uniqlo to go the H&M way, to enter Indian market by 2018

By

Maverick Martins

Published
Jan 27, 2017

Japanese fast fashion brand Uniqlo is likely to follow in the footsteps of its global rival H&M and set up wholly-owned stores across India.

Uniqlo has already initiated talks for its India entry with mall developers in top cities to open its stores by next calendar year, two people aware of the development told the Economic Times.

"We are in talks with Uniqlo for possibility of opening a store in our mall. The company is looking at entering the market by 2018," said a mall developer who requested not to be identified. Another top executive of a prominent mall said a group of Uniqlo executives from Japan were in the country in late December and held talks with premier malls in Delhi NCR and Mumbai.“Their strategy is to come on their own," the person said.

The Japanese brand was earlier in talks with Arvind Brands for a possible joint venture for its India launch however the deal failed to materialize. India allows 100% foreign direct investment in single brand retail.

J Suresh, CEO of Arvind Brands, declined to comment when asked about Uniqlo's possible solo entry into India.