01 November 2021, Mumbai:
Uniqlo India Private Limited narrowed its losses by 43% to Rs 36 crore ($4.8 million) in the fiscal year 2020-21, thanks to an 83 percent increase in revenue to Rs 239 crore. Business Line
During the financial year 2019-20, the firm had a revenue of Rs 128 crore. According to a Businessline story citing statistics from business intelligence platform Tofler, Uniqlo's overall costs for the fiscal year were Rs 275 crore, up from Rs 192 crore the previous fiscal year.
"It was intended to start off and have online e-commerce on board during the financial year under review in order to scale up the business and cater to a larger customer base, which would be prospectively advantageous to the overall interest of the company," the company said in its regulatory disclosure.
Uniqlo, a Fast Retailing brand, initially entered the Indian market in October of this year. It presently has six locations in the Delhi NCR area and wants to expand its retail footprint by building outlets in Mumbai.
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