Last Updated: 2023.05.10
Statement Regarding the Closure of the 'Grameen UNIQLO' Business
FAST RETAILING CO., LTD.
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Grameen UNIQLO, Fast Retailing Co. Ltd.'s social business operating in Bangladesh through its 100% wholly owned subsidiary UNIQLO Social Business Bangladesh Ltd., will close all ten stores by June 18, 2023, and the business will be closed down.
In 2010, Fast Retailing started the social business together with the Grameen Bank Group with the aim of responding to social issues as poverty, health, and education in Bangladesh through a clothing business. Since 2013, Grameen UNIQLO has 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 life and by creating opportunities for employment in safe environments.
In view of Bangladesh's significant economic development in recent years, as well as changes to its business environment, Fast Retailing has determined that Grameen UNIQLO has fulfilled a certain role, and has decided to conclude its business activities.
Fast Retailing remains committed to Bangladesh - 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 partner factories in Bangladesh continue to produce Fast Retailing products, including UNIQLO items.
Additionally, Fast Retailing will continue working to improve the lives of people in Bangladesh. Initiatives include the Women's Empowerment Program, launched in partnership with UN Women in 2019 to support the development of women in Bangladesh aspiring to leadership positions in garment factories.
