Japanese retailer Uniqlo records profit within 3 years of doing business in India
The Indian unit of Japanese clothing retailer Uniqlo has become profitable in three years of operation.
Uniqlo India Pvt Ltd, which opened its first store in October 2019 here, reported profit after tax (PAT) of Rs 21.49 crore for FY22, according to data provided by business intelligence platform Tofler.
Its income for the financial year ended March 31, 2022 was Rs 391.7 crore, up 63.77% from the previous year.
Uniqlo India had reported a net loss of Rs 36.19 crore on revenue of Rs 239.17 crore for the financial year ended March 31, 2021.
Comments from Uniqlo India could not be obtained at the time the story was filed.
Uniqlo India is expanding its network of retail stores. For this, the company is identifying strategic locations in metropolitan and non-metropolitan cities. The company launched its official UNIQLO.com online store in India last year to boost its presence in the e-commerce segment.
Uniqlo is a brand of Fast Retailing, a leading Japanese holding company with global headquarters in Tokyo, Japan.
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