Uniqlo set to expand beyond Delhi-NCR with Lucknow store
Premium- The new store, which will open at Lulu Mall in July 2022, is spread over 9,265 sq. ft
New Delhi: Japanese retailer Uniqlo is set to expand its presence outside of the Delhi-NCR market with a store in Lucknow, Uttar Pradesh. The new store will open at Lulu Mall in July 2022.
“This launch also supports our underlying commitment to the ever-evolving Indian market and marks a major step forward for our business expansion in India" said Tomohiko Sei, chief executive officer, Uniqlo India. “This is a big step for our expansion outside of Delhi-NCR for our physical stores," he added.
The upcoming store in Lucknow is spread over 9,265 sq. ft; Uniqlo's Lucknow outlet will be the brand’s seventh store in India.
The retailer will focus on north India as a market for expansion in this fiscal as it draws positive response and strong demand for its winter portfolio especially its signature fleece jackets and warm inners.
“We already have very positive feedback about whole winter items. So, this first expansion is here is North India. The city (Lucknow) is also very close to Delhi. So, we get to maintain our quality of service, including logistics and operation. Actually, we are focusing on north India at first," Sei said.
Uniqlo entered India in 2019 with its first store in New Delhi. It has a total of six stores in Delhi-NCR.
Sei said the company is in expansion mode; the retailer is always looking for an opportunity. “We are always looking for the opportunity, including Mumbai," he added.
For the financial year ended 31 March 2021 the apparel retailer reported an 86% jump in revenues at ₹239 crore, according to financial data accessed by business intelligence platform, Tofler. Its losses for the year stood at ₹36 crore. The company narrowed losses in the last fiscal. In the year-ago period, Uniqlo India reported a loss of ₹64 crore, according to the last available financials of the company.
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A year ago, the retailer also commenced full-scale e-commerce operations in India months after launching limited online deliveries as the pandemic fast-tracks e-commerce adoption among shoppers.
E-commerce sales now contribute 15% to the retailer’s sales, Sei said. He ruled out plans to partner with a third-party e-commerce marketplace in India.