Dhaka, Bangladesh (BBN)- Japanese clothing chain Uniqlo opened its first two stores in the capital Dhaka on Friday to attract the country’s growing middle class, providing them with locally-produced high quality comfortable clothing at affordable prices.
The new Grameen Uniqlo stores are located in Dhaka, at 234/2 New Elephant Road and 41/8 Block C Banasree, and feature Uniqlo’s signature “beauty in hyper practicality” – tailored to the specific needs of Bangladesh.
The initiative is part of a social business venture between global apparel giant Uniqlo and Grameen Healthcare Trust.
Fast Retailing, which owns Uniqlo, has teamed up with Grameen Healthcare run by Nobel Peace laureate Professor Muhammad Yunus, to initially open two stores in the capital as part of their long-term commitment to address poverty, hygiene, the environment, and educational and gender inequality in the fast growing nation.
At its New Elephant Road outlet, Ambassador of Japan to Bangladesh Shiro Sadoshima, Managing Director of Grameen Uniqlo Yukihiro Nitta, and Chief Operating Officer of Grameen Uniqlo Yamaguchi Tadahiro jointly marked the launch with an opening ceremony.
“I am extremely pleased to welcome one of Japan’s most established multinationals to Bangladesh. Developed based on Japanese technology, I personally wear Uniqlo products and believe that Grameen Uniqlo will come to be appreciated in Bangladesh – as it is elsewhere worldwide,” Shiro Sadoshima said while speaking at the launching ceremony.
Yukihiro Nitta said: “We’re committed to Bangladesh, in offering our quality, comfortable, and affordable clothing. We expect to be well received, and look forward to re-investing to grow the business and give back to local communities.”
The stores offer a range of 32 items for men and ten for women, for between US$2.50 and $15.50.
“Grameen Uniqlo produces the collection in Bangladesh using locally sourced materials, providing highly practical items in a range of colors made from soft and stretchy synthetic fibers (such as polyester and polyurethane) – made by locals, for locals,” the company said.
In 2010, Grameen Uniqlo began producing quality, comfortable clothing in Bangladesh at affordable prices, for local economically disadvantaged communities. “Any profits generated have been reinvested to build the business, improving the quality of life and achieving financial independence for these communities.”
Uniqlo is a brand of Fast Retailing Co. Ltd., a leading global Japanese retail holding company that designs, manufactures and sells clothing under seven main brands: Comptoir des Cotonniers, GU, Helmut Lang, J Brand, Princesse tam.tam, Theory, and Uniqlo.
With global sales of approximately 928 billion yen for the 2012 fiscal year ending August 31, 2012, Fast Retailing is currently the world’s fourth largest apparel retail company, and Uniqlo is Japan’s leading specialty retailer.
BBN/SSR/AD-05July13-10:08 pm (BST)