Japanese casual apparel firm Uniqlo reported a net loss of Rs 64 crore with revenue of Rs 129 crore during FY19-20, according to the Economic Times report. Uniqlo’s financial parameters, which opened its first storein India last year in October, are greater than many other clothing brands, provided that it had four stores with many running for only a few weeks before the end of the fiscal year. According to documents collected from Altinfo, a data insight agency, the company distributed 30.63 lakh shares of Rs 170 crore to its holding company, Fast Retailing, Japan, on the correct basis during the financial year under scrutiny.
In 2015, H&M’s Indian subsidiary posted Rs 194 crore in turnover during its first year, while Zara had clocked Rs149 crore revenue in 2010. Although both firms opened their first store in October of that year, representing six months of success, in their launch year the European rivals were profitable. Experts agree that rivals’ overall price tag is around 25-30 percent cheaper than Uniqlo, and the store wants to rationalize the sales policy and adjust products to fit Indian tastes.