By  on July 14, 2010

TOKYO — Fast Retailing Co. Ltd. , the corporate parent of Uniqlo, said it is launching an initiative to produce low-cost clothing and create jobs for the people of Bangladesh.

The Japanese company is forming a joint venture with Grameen Healthcare Trust, a subsidiary of microcredit organization Grameen Bank. The initiative, called Grameen Uniqlo Ltd., will develop and produce inexpensive clothing and sell the items to low-income families within Grameen Bank’s network.

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