Uniqlo delays India entry, now it will open its first store in 2019

Global fast fashion giant Uniqlo has put off its India entry for a year due to the unavailability of quality retail space. The Japanese casual wear brand is now looking to enter the market by 2019. It has taken the help of Commercial Real Estate Services (CBRE) for a 15,000-17,000 square feet space in North India for the first store. Meanwhile the brand is talking to mall developers for the right location for its India expansion. Uniqlo, now plans to set up a wholly-owned subsidiary in India.

Global apparel company, Uniqlo works with a number of external companies to help find possible locations in both existing and new markets. And before venturing out it looks at and reviews a number of possible locations before making a decision.

Real estate consultant firm JLL says, for the first time in 2016, a net negative supply of retail space was observed in the country. While 13 malls were completed, 15 malls were withdrawn from the operational stock, resulting in a net effect of 0.3 million square feet reflecting on the supply side.