**Uniqlo Plans Major Expansion in India, Aiming for ₹3,000 Crore Revenue**
Japanese retailer Uniqlo, a subsidiary of The Fast Retailing Group, is set to significantly expand its presence in India, with plans to more than double its store count and triple its revenues over the next three years. This ambitious growth strategy is fueled by the company’s increasing confidence in entering new markets, according to Kenji Inoue, CFO & COO of Uniqlo India.
In a recent virtual interview, Inoue explained that the company initially concentrated its efforts in northern India, which facilitated rapid expansion. “In the first four years, we focused on the north—that’s why our expansion was so fast,” he noted. However, Uniqlo is now broadening its reach into western and southern markets, which is expected to accelerate growth. The company aims to maintain a year-on-year growth rate of 30 to 40%, targeting revenues of approximately ₹3,000 crore within three years.
Uniqlo made its debut in India in 2019 with its first store in New Delhi and currently operates 16 stores across the country. In fiscal year 2025, the retailer reported a remarkable 44% increase in revenue, surpassing ₹1,100 crore, driven by retail expansion, heightened brand awareness, and a robust e-commerce performance. The company’s profit after tax for FY25 more than doubled to ₹178.4 crore.
Inoue emphasized that while the company does not strictly adhere to a specific number of store openings, it aims to double its current store count. Initially focused on northern regions due to a higher demand for winter wear, Uniqlo has recently entered the Mumbai market, which has shown a strong consumer response.
Looking ahead, Uniqlo is set to open its first store in Bengaluru this week, marking its entry into South India, with plans to expand to Pune next month. The Indian market is crucial for Fast Retailing’s growth strategy. Inoue highlighted the potential for long-term growth, stating, “Given the size of the market and how our life wear has been accepted by Indian customers, there is huge potential. We are aiming for a long-term annual target of ¥10 trillion in sales, which is triple our current figures.”
Despite a slowdown in the broader retail industry due to increased competition, India’s fast fashion market continues to thrive, growing at 30-40% year-on-year. Currently valued at $10 billion, it is projected to reach $50 billion by FY31, according to Deloitte estimates.
**FAQ**
**What is Uniqlo’s growth strategy in India?**
Uniqlo plans to double its store count and triple its revenues in India over the next three years, focusing on expanding into southern markets and maintaining a growth rate of 30-40% annually.
