Apparel Online Bangladesh Magazine February Issue 2019 | Page 74

RETAIL CURRENT THE LATEST NEWS HAVE YOUR SAY For the latest news on apparel and textile, make sure that you visit https://apparelresources.com/top-news/ Write to Apparel Resources, B-32, South Extension-1, New Delhi (110049), India or email: [email protected] Uniqlo Japan sees slump in sales; international outlets generate good revenue Uniqlo Japan, the wholly owned subsidiary of Fast Retailing Group, has witnessed a decline in sales revenue. The fashion brand earned US $ 2.27 billion, a slide of 4.3 per cent year-on-year. The profit attributable to owners of the parent firm was US $ 678.4 million, a decrease by 6.4 per cent. One of the major causes of this sluggish sales has been warm winter in Japan. Online sales, on the other hand, improved significantly with a jump of 30.9 per cent. Uniqlo International, unlike Uniqlo Japan, generated an impressive revenue of US $ 2.69 billion, which is an increase of 12.8 per cent. It is important to note here that both Uniqlo South Korea and Uniqlo Greater China clocked higher sales and profits despite the impact of warm winter. Uniqlo Southeast Asia & Oceania also continued reporting important revenue and profit gains. Reportedly, Fast Retailing Group’s consolidated business estimates for the financial year predict a revenue growth of 8 per cent and operating profits of 14.3 per cent. Future Group expects online sales to touch Rs. 1,000 crore this fiscal Indian Retail major Future Group is expecting its online sales to be around Rs. 1,000 crore this fiscal year. The firm is expanding its presence in the e-commerce space and plans to take its fashion discount retail chain Brand Factory online by March this year. clarification.” “This brings an end to people doing retail business which was the intent of the policy for a long period of time. We are very happy that there is a level playing field. There is a policy clarity. Why cannot we build our own Indian Alibaba or Indian Amazon?” he had asserted. “Online for us should be Rs. 1,000 crore business this financial year. Our biggest launch in the online section is going to happen in March which is brandfactory.in,” said Kishore Biyani, Founder & CEO, Future Group. Presently, Future Group operates brands in fashion verticals like FBB and Future Lifestyle in online business. Biyani has lauded the recent changes in norms for e-commerce companies, and said, “For us, this policy was always existing and there is nothing new in this policy. This policy existed. It’s more about 74 Apparel Online Bangladesh | FEBRUARY 2019 | www.apparelresources.com In December, the Government tightened the FDI norms for the e-commerce sector, disallowing online marketplaces with foreign investments from selling products of the companies where they hold stakes as also exclusive marketing arrangements.