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Published
Oct 21, 2021
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Uniqlo India narrows losses by 43 percent to Rs 36 crore

Published
Oct 21, 2021

​Uniqlo India Private Limited managed to narrow its losses by 43 percent to Rs 36 crore ($4.8 million) for the financial year 2020-21, on the back of an 83 percent rise in revenue at Rs 239 crore.
 

Uniqlo India’s losses narrow by 43 percent to Rs 36 crore


The company had reported revenue of Rs 128 crore during the financial year 2019-20.
 
Uniqlo’s total expenses during the year stood at Rs 275 crore, as against Rs 192 crore it had reported in the previous fiscal year, according to a Businessline report, which cited data from business intelligence platform, Tofler.

“During the financial year under review, in order to scale up the business and cater to more customer base which would be prospectively advantageous to the overall interest of the company, it was intended to start off and have online e-commerce on board,” the company said in its regulatory disclosure.
 
Uniqlo, a brand of Fast Retailing, first entered the Indian market in October 2019. It is currently operating six stores in Delhi NCR and plans to further strengthen its retail presence by opening stores in the city of Mumbai.

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