New Delhi: Japanese retailer uniqlo It is set to expand its presence outside the Delhi-NCR market with a store in Lucknow, Uttar Pradesh. The new store will open in July 2022 at Lulu Mall.
Tomohiko Sei, Chief Executive Officer, Uniqlo India, said, “This launch supports our underlying commitment to the ever-evolving Indian market and is a major step forward for our business expansion in India.” “This is a big step for our expansion in Delhi-NCR for our physical stores,” he said.
The upcoming store in Lucknow is spread over 9,265 sq ft; Uniqlo’s Lucknow outlet will be the brand’s seventh store in India.
The retailer will focus on North India as a market for expansion this financial year as it attracts positive response and strong demand for its winter portfolio, especially with its signature fleece jackets and warm inners.
“We already have very positive feedback regarding the whole winter items. So, this is the first expansion here in North India. The city (Lucknow) is also very close to Delhi. So, let us maintain our service quality including logistics and operations. Get to keep it. Basically, we are focusing on North India first,” Sei said.
Uniqlo entered India in 2019 with its first store in New Delhi. It has a total of six stores in Delhi-NCR.
Sei said the company is in expansion mode; The retailer is always on the lookout for opportunity. “We are always on the lookout for opportunities, including in Mumbai,” he said.
Apparel retailer registers 86% jump in revenue for the financial year ended 31st March 2021 239 million, according to financial data obtained by business intelligence platform, Tofler. its loss for the year 36 crores. The company had reduced losses in the last financial year. In the year-ago period, Uniqlo India reported a loss of 64 crores, as per the last available financials of the company.
A year ago, the retailer launched full-scale e-commerce operations in India months after introducing limited online deliveries as the pandemic fast-tracked e-commerce adoption among shoppers.
E-commerce sales now contribute 15% to retailer sales, Sei said. He rejected plans to partner with third-party e-commerce marketplaces in India.