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Grameen UNIQLO is going to close business in Bangladesh by Jun 18, and cited “a change in business environment” as one of the reasons, according to a notice on their website.
Tokyo-based clothing brand Uniqlo owned by Japan’s Fast Retailing Co, started its business together with the Grameen Bank Group in 2010. The retailer currently operates 10 stores, reports bdnews24.com.
“Since 2013, we have opened stores mainly in the capital city of Dhaka and conducted business with the aim of improving the lives of the people of Bangladesh by providing clothing to meet the needs of local daily lives and by creating opportunities for employment in safe environments,” the company statement said.
“In view of Bangladesh's significant economic development in recent years, as well as changes to its business environment, we have determined that our company has fulfilled a certain role and has decided to conclude its business activities,” the statement added.
However, the notice said Fast Retailing Co remains committed to Bangladesh, calling the country one of its most important manufacturing locations.
“In 2008, the company opened a production office which contributes to the development of the local textiles industry, while our partner factories in Bangladesh continue to produce Fast Retailing products, including UNIQLO items,” the notice says.
The company also said Fast Retailing will continue working to improve the lives of people in Bangladesh, and the continued Initiatives will include their Women's Empowerment Program.
The programme was launched in partnership with UN Women in 2019 to support the development of Bangladesh’s women who aspire to leadership positions in garment factories, according to the notice.