Uniqlo India aims Rs 1k cr sales mark in FY25, to increase local sourcing

Uniqlo India aims to touch Rs 1,000-crore sales mark in the current fiscal year, continuing with its 30 per cent annual growth journey, helped by retail expansion, its Chief Operating Officer Kenji Inoue said here on Thursday.Besides Uniqlo India is also increasing local sourcing, aiming to source 18 per cent from local production by 2025, from 15.5 per cent currently.India is an "important" market for the parent entity -- Fast Retailing Co. which recently reported an annual sales of 3 trillion yen (nearly USD 20 billion) and now aiming to triple it to 10 trillion yen in future."We have been achieving 30 per cent growth, we feel that the potential of the market is huge. We at Fast Retailing just achieved 3 trillion yen sales and we are now targeting 10 trillion yen, which is three times, and definitely, this market would be one of the very important markets to (achieve) that," Inoue told PTI.Though India is still a small market on a global scale for Uniqlo, its potential "is ..