Japanese apparel brand Uniqlo brand is continuing with its India expansion plan amid Covid-19 disruptions, opening its fifth retail store in the country, as part of its one-year anniversary celebrations.
Uniqlo owner Fast Retailing may have taken a 42% pandemic-linked hit in its latest year but it’s forecasting a 60%+ recovery in its operating profit in the current financial year that ends next August.
After a bump in August sales in Japan, Fast Retailing investors will look to the company's financial update on Thursday for signs that the recovery will last beyond a flurry of sales in masks and stay-at-home clothes.
Uniqlo is diving deeper into recycling. It has unveiled the first products to be launched from its Re-Uniqlo initiative that collects its clothing no longer needed by customers “and gives them new life and new value”.
Uniqlo’s next collab will be with Jil Sander, in a reprise of a link-up with the fashion legend which first began 11 years ago - and a natural fit between the Queen of Less and the no pain at the cash register retailer.
The weather played less of a part than usual in sales at Fast Retailing’s Uniqlo chain during July with the company saying on Tuesday that its Japanese sales (including online) rose 4.7% year-on-year during the month.
Uniqlo India donated 2 lakh masks and 2,000 units of its 'ALRism innerwear' to hospitals and police departments in Delhi National Capital Region (NCR) to support frontline workers in the fight against COVID-19.