{"id":15761,"date":"2013-07-07T01:07:12","date_gmt":"2013-07-07T01:07:12","guid":{"rendered":""},"modified":"2025-10-15T00:19:19","modified_gmt":"2025-10-15T00:19:19","slug":"uniqlo-brings-fashion-back-to-the-source","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=15761","title":{"rendered":"Uniqlo Brings Fashion Back to the Source"},"content":{"rendered":"

Uniqlo, owned by Japan\u2019s Fast Retailing Co., is opening two stores in Bangladesh, a favorite low-cost sourcing hub for many international retailers but a country where, until now, they have not sold their clothes.<\/strong><\/p>\n

The Japanese retailer, in a tie-up with Bangladesh\u2019s Grameen Bank, founded by Nobel laureate Mohammad Yunus, has dared to venture into a $70 billion retail market untouched by global chains, where about 30 million people make up the middle-income bracket.<\/p>\n

In April, more than 1,100 garment workers died in the collapse of a eight-story building in Bangladesh, putting pressure on international fashion brands to improve worker safety and livelihoods.<\/p>\n

Uniqlo, on its website, says its T-shirts cost 20-30 percent more than those sold in the local market, and says it is banking that customers will pay a little more for the higher quality.<\/p>\n

\u201cWe\u2019re not selling Uniqlo products, we\u2019re going to be selling Grameen Uniqlo which is more geared to the local market, for between about 200 and 1,000 yen ($2-$10),\u201d said Naoto Miyazawa, a Fast Retailing spokesman in Tokyo.<\/p>\n

Uniqlo is investing $4.6 million in Bangladesh.<\/strong> The company describes the initiative with micro-lender Grameen as a \u201csocial business venture\u201d on its website and plans to reinvest the profits to alleviate poverty in rural areas.<\/p>\n

via www.reuters.com<\/a><\/em>
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