Uniqlo prepares for entry into India
In the fight to be a global retail giant, it is likely that India will become a crucial factor for growth in the coming years. With the recent levying of certain administrative and fiscal boundaries in the country, interest in India is very much on the up.
According to The Times of India, dated 16 January, Uniqlo is preparing for entry into the Indian market. Belonging to Japanese group Fast Retailing, the brand is set to sign a joint-venture agreement with Indian group Arvind. The two, who could be partners by the second quarter of 2013, could be looking at turnover of one billion dollars by 2020.
Arvind is a key player for international groups and it’s ‘Brands & Retail’ division has worked with PVH and VF Corp. The group gained the rights to Next and Debenhams in India in September and also works with American brand, Nautica.
The Arvind group is headed by Sanjay Lalbhai - who is also an expert in demin production - and reported turnover of 500 million euros for 2011-12.
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