Japanese retailer Uniqlo posts profit within 3 yrs of operations in India

Japanese apparel retailer Uniqlo's Indian unit has turned profitable within three years of its operations.

Uniqlo India Pvt Ltd, which opened its first store in October 2019 here, reported a profit after tax (PAT) of Rs 21.49 crore for FY22, according to data provided by business intelligence platform Tofler.

Its income for the financial year ended March 31, 2022, was at Rs 391.7 crore, up 63.77 per cent from the previous year.

Uniqlo India had reported a net loss of Rs 36.19 crore on a revenue of Rs 239.17 crore for the financial year ended on March 31, 2021.

Comments from Uniqlo India could not be obtained by the time of filing of the story.

Uniqlo India is expanding the network of its retail stores. For this, the company is in the process of identifying strategic locations in both metro and non-metro cities. The company introduced its official online store UNIQLO.com in India last year to strengthen its presence in the e-Commerce segment.

Uniqlo is a brand of Fast Retailing, a leading Japanese retail holding company with global headquarters in Tokyo, Japan.