Uniqlo Financial News

market, as per an Economic Times report. This potential move would position Reliance against competitors such as Tata's Zudio, Max from Landmark Group, and Shoppers Stop's new value format InTune, it added. The 55-year-old Primark brand, known for its affordably priced clothing and shoes, has been assessing the Indian market for several years and might collaborate with Reliance through a joint venture or licensing agreement, two sources told the paper.

Boxy shirts, Korean pants, oversized tees and cargos for boys. Gen Zs have aunique way of dressing up. Some 20 brands launched in the past five years and aimed squarely at the social media generation — from Freakins and Bonkers Corner to Urbanic and Newme— are already nibbling into the sales of established rivals such as Zara and H&M in India. Gen Z, the largest consumer cohort, isn’t brand conscious or loyal either, which is hurting global labels. Its members, between the ages of 13 and 28 years, frequently experiment with attire, from head to toe. Also, money isn’t a factor as most of these upcoming brands have price tags of Rs 500-800, almost half that of their rivals.

Uniqlo plans to expand production and sourcing in India to meet global demand. The company currently sources 15.5% of its products for Indian stores locally. «For our India stores, we are sourcing about 15.5% of our requirements locally but the share is higher for exports and the strategy is to keep sourcing more,» said Kenji Inoue, Uniqlo India's COO and CFO, in an interview to ToI. Items like T-shirts and heattech clothing are already being sourced from India for Uniqlo's global stores. Inoue believes India's growing middle class and their demand for quality products makes it a key market for the brand.

ethnic wear brand Indifusion, which it had acquired three years ago, amid mounting losses and falling demand. The move also signals a larger slowdown trend in the overall ethnic wear segment since last year, said retailers and mall owners. Bestseller said the brand's sales did not meet expectations or ambitions and, therefore, they decided to make strategic adjustments and realign its focus. Bestseller, known for its western casual brands such as Jack and Jones and Vero Moda, purchased Indifusion in a distress sale during the peak of the pandemic but had no prior experience in operating an Indian wear label. «For a western brand company, understanding the Indian wear segment is challenging and time consuming too. Also, there has been a general slowdown in the discretionary segment including apparel, which worsened its revival plan,» said an industry executive. Over the past two decades, a shift from ready-to-stitch clothing to ready-to-wear along with the entry of national players like BIBA, W, AND, and Global Desi has propelled the growth in branded apparel helped by a significant shift away from traditional sarees towards ethnic wear and western wear. In India, ethnic wear is the single biggest category in the women's wear segment with a share of 71% despite global fashion brands such as Zara, H&M and Uniqlo pushing westernised clothing in their market.

Tech stocks tracked a slide among U.S. peers, but a powerful quake that rocked Taiwan had only a limited impact on Japanese chip shares.

fashion retailer Myntra said it has added more than one new international apparel, beauty and lifestyle brand every week on an average since the pandemic, which helped it avoid a slowdown in the overall retail market since over a year. With 420 global brands in its portfolio, the Flipkart arm gets about a quarter of its revenue from international brands.

Uniqlo Co_ has sued rival retailer Shein over a small shoulder bag the Japanese retailer said was an inferior and unlawful copy of its own hit product touted as the “Mary Poppins bag.”

Uniqlo said Tuesday that it is suing Chinese rival Shein over copycats of a massively popular crossbody pouch dubbed online the "Mary Poppins carryall". Videos of fans praising its deceptively small size have gone viral on social media, with one clip on TikTok of a young woman unpacking numerous large items racking up more than a million views.

developers including DLF, M3M, Omaxe, Group 108, and Dhillon Group looking to develop about three million square feet of retail projects with open spaces in the next 2-3 years. There is a significant demand for high street retail space across Indian cities as the supply remains constrained with most developers focused on building large shopping malls, industry insiders said. India has only 13.2 million sq ft of high street space available for retailers, while malls occupy seven times that space at 93 million sq ft, according to data by Cushman & Wakefield.

Bharat Tex exhibition in February aims to showcase the complete textile value chain, featuring participants ranging from farmers to fashion designers. The event, held at both Bharat Mandapam and the newly constructed Yashobhoomi in the capital, marks India's dedication to becoming a global textile powerhouse, combining innovation, collaboration, and the «Make in India» spirit. Timed strategically, the exhibition, covering an expansive two lakh square feet (equivalent to 45 football fields), is anticipated to coincide with the announcement of general elections. Textiles has been a major focus sector, given the large number of weavers, artisans and workers involved in the sector. Bharat Tex 2024 represents India's 5F vision, encompassing Farm to Fibre to Factory to Fashion to Foreign. It emphasizes the nation's readiness to take on global competition in the textile sector, creating products not only for India but the entire world. The four-day event is expected to attract global CEOs, policymakers, in addition to over 3,500 exhibitors from around the world, 3,000 overseas buyers from over 40 countries, and more than 40,000 domestic buyers, official sources told TOI. The textiles ministry, which is working with trade bodies, has reached out to global players such as Chanel, LVMH, Uniqlo, Zara and Walmart — which is hosting its first global sourcing meeting around the same time — to join the mega event where nearly 100 top Indian brands such as Fabindia, Nalli, Arvind Mills and Raymond will be showcased as the organisers work on the theme of «local for global». «Indian manufacturers cater to big brands, largely as vendors.

TOKYO (Reuters) -Japan's Fast Retailing Co, owner of clothing brand Uniqlo, reported on Thursday that full-year operating profit rose 28% to reach its second consecutive record, aided by a post-pandemic recovery in China and the yen's slide.

By Jamie McGeever

₹391 crore, according to data from financial intelligence platform Tofler. The retailer is yet to disclose its FY23 financials."Exciting news! Mint is now on WhatsApp Channels

Reliance Retail Ltd, said. Prasad, however, did not share the timeline of the stores expansion plan. In July 2022, Reliance had signed long-term partnership agreement with Gap Inc., to launch the American fashion brand in India.

In the year since Roger Federer announced his retirement from professional tennis, the 42-year-old Swiss athlete has been busy—co-chairing the annual Met Gala fundraiser, sitting front row at Dior’s couture show in Paris and, recently, debuting a tennis collaboration between Uniqlo and the fashion label JW Anderson. None of it has been as time-consuming as Federer’s new role as a carpool dad. “I’m basically a professional driver now," he said in a recent interview.

Uniqlo, Asia's biggest clothing brand, has posted a 69% increase in sales while net profit nearly tripled for its Indian unit during the year ended March 2023. The Japanese brand posted a net profit of Rs 68.38 crore with net revenues of Rs624.6 crore, according to its latest filing with the Registrar of Companies. A year ago, it had a profit of 21.4 crore with sales of Rs391.7 crore. «Indians like affordable pricing but high quality clothing.

QIA) agreed to invest ₹8,278 crore ($997 million) in Reliance Retail Ventures (RRVL) at an equity valuation of ₹8.2 lakh crore ($100 billion), making it the single largest investment by the sovereign wealth fund of the gas-rich country in India. RRVL, the holding company of Reliance Retail Ltd (RRL), had diluted 10.1% stake and raised over $6 billion in 2020 from several financial sponsors and sovereign wealth funds (SWFs) such as KKR, General Atlantic, TPG, Silver Lake, L Catterton, Abu Dhabi Investment Authority, Mubadala and Public Investment Fund of Saudi Arabia. QIA and RRVL announced the deal on Wednesday. The capital raise, at a 97% premium to the last round (₹4.2 lakh crore), sets a new valuation benchmark for a larger $3-4 billion raise being planned by RRVL, said people in the know.Europe Meeting The funding round from financial investors including SWFs from South-East Asia is part of a value-unlocking exercise ahead of a planned listing, said people in the know. At $100 billion, RRVL, with over 18,000 stores, will outpace global peers such as Tesco, Carrefour, Uniqlo and JD.com. In India, Reliance Retail, the largest in the segment by sales and profit already, will be almost 3.5 times the value of the largest listed retail chain, Avenue Supermarts, which owns DMart.

Reliance Industries Ltd (RIL) on Wednesday announced that Qatar Investment Authority (QIA) will invest Rs 8,278 crore in its subsidiary Reliance Retail Ventures. This investment values Reliance Retail Ventures at a pre-money equity value of Rs 8.28 lakh crore. The investment by the Qatari fund will translate into a nearly 1% stake in the retail major. In 2020, Reliance Retail Ventures raised Rs 47,265 crore by selling a stake to various global investors.

Reliance Retail Ltd earlier this year. In FY22, Uniqlo India’s income surged 64% from a year ago to ₹391 crore, data sourced from financial intelligence platform Tofler showed. The retailer is yet to disclose its FY23 financials.

Japan's Nikkei share average rallied to a four-week high on Monday as a relatively calm reaction in the domestic bond market following the Bank of Japan's surprise policy tweak and growing optimism for a soft landing for the U.S. economy boosted investor sentiment. Earnings reports also produced some stand out winners and losers, with Toyota Group logistics company Toyota Tsusho surging nearly 10% and helping lift the auto sector.

The National Retail Federation estimates retailers lost $100 billion last year to theft.