Apparel Online Bangladesh Magazine February Issue 2019 | Page 74
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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.