Fast Retailing Co., Ltd. announces the July 5, 2013 opening of two Grameen UNIQLO stores in Bangladesh, in another step towards the vision of a nationwide chain of Grameen UNIQLO locations across the country.
The initiative is an aspect of Fast Retailing's long-term commitment to address poverty, hygiene, the environment, and educational and gender inequality in the rapidly developing nation.
The new Grameen UNIQLO stores are located in Dhaka, at 234/2 New Elephant Road and 41/8 Block C Banasree, and feature UNIQLO's signature "beauty in hyperpracticality" - tailored to the specific needs of Bangladesh.
The stores offer a range of 32 items for men and ten for women, for between US$ 2.50 and US$ 15.50. Grameen UNIQLO produces the collection in Bangladesh using locally sourced materials, providing highly practical items in a range of colors made from soft and stretchy synthetic fibers (such as polyester and polyurethane) - made by locals, for locals.
Commenting on the announcement, Fast Retailing Chairman, President, & CEO Tadashi Yanai said, "We are pleased to announce our next step in our long-term commitment to the rapidly developing nation of Bangladesh. We reinvest any profits to grow the business, and help to address challenges related to poverty, hygiene, and education. Our aim is to nurture independence and self-sufficiency, and to contribute toward raising the standard of living in Bangladesh."
To date, Grameen UNIQLO has focused on door-to-door sales in farming villages - offering affordable, quality clothing to people living below the poverty line. Through the new stores in Dhaka, Grameen UNIQLO creates local jobs and offers customers in Bangladesh's capital quality, comfortable, and affordable clothing.
Fast Retailing established UNIQLO Social Business Bangladesh Ltd. in September 2010, and the joint venture with Grameen Group's Grameen Healthcare Trust in August 2011.