TOKYO — Fast Retailing Co. Ltd.’s Uniqlo brand is considering sourcing garments in India, according to a statement from the Indian government.
This story first appeared in the June 26, 2014 issue of WWD. Subscribe Today.
Fast Retailing chairman, president and chief executive officer Tadashi Yanai met with Indian Prime Minister Shri Narendra Modi on Wednesday, the Indian government said in a brief statement on its Web site. “[Uniqlo] aims to source garments from India,” the government said.
“Shri Modi welcomed Mr. Yanai’s interest in developing Uniqlo’s business in India, and highlighted the advantages that India enjoys in the garments sector, including availability of cotton, skilled manpower, robust infrastructure, a big domestic market and good ports for exports,” the Indian government said.
Uniqlo currently produces the majority of its apparel in China, but the company has been looking to diversify its sourcing resources as production costs in China increase.
“As we continue to grow our business globally, we are considering to expand our manufacturing partnerships, to be able to best meet customer needs in a timely and efficient manner. No decisions regarding any new manufacturing partnerships have been made at this time,” a Fast Retailing spokesman said Wednesday.
While Uniqlo has opened stores in several Asian countries and regions, including China, South Korea and Southeast Asia, it has yet to enter India with a retail presence.