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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 ..
The appliance & consumer electronics industry expects around 30 per cent growth in the festive season sales this year after a double-digit booster from online sale events of leading etailers Flipkart and Amazon and an expected final thrust from offline channels during Dhanteras week. This festive season, premiumisation is the flavour, where consumers are willing to pay extra for features such as energy efficiency, higher capacity and larger size and even showing interest in the high-end AI & IOT Technology-driven products, industry leaders said. Companies such as LG Electronics, Panasonic, Sony, Godrej Appliances and Haier started festive sales with a good kick start from the Onam festival and expect to continue the momentum till the remaining week of the nearly 45-day festive period, which concludes after Diwali. To make the premium range as large screen TV panels above 51' screen size, higher load capacity washing machines and French door refrigerators (with two side-by-side
With inflation cooling off, leading shoemaker Bata is bolstering the premium price points with fresh portfolios while it increases spending on advertising and promotions to connect with young digital-savvy consumers, according to company Managing Director and CEO Gunjan Shah. The company, as part of its sales strategy, is expanding its presence in both channels - physical stores and online - and expects e-commerce to contribute 20 per cent of its total sales in the next two to three years, he said. Bata is also pushing for offline sales and expects strong growth to come from its expansion under the franchise system, where it plans to add another 125 stores in FY24 and increase its presence at multi-brand outlet (MBO) channels. Though with the opening of offices and schools, sales of casual wear products have increased, Shah said the trend of casualization would continue in the long term and Bata is pursuing it by extending its mid-premium brands Hush Puppies and Red Label in the ...