Grameen UNIQLO, a clothing business operating in Bangladesh, has announced the closure of all ten of its stores by June 18, 2023. In a notice to its customers, the company cited significant economic development in Bangladesh and changes to the business environment as reasons for the closure.
Grameen UNIQLO was established in 2010 as a social business aimed at responding to social issues such as poverty, health, and education in Bangladesh through the clothing industry. The company opened stores in Dhaka and focused on improving the lives of people in Bangladesh by providing clothing that meets local needs and creating employment opportunities in safe environments.
Despite its commitment to social issues, the company has determined that it has fulfilled its role in Bangladesh and has decided to conclude its business activities. However, Grameen UNIQLO’s parent company, Fast Retailing Co., Ltd., will continue its operations in Bangladesh as one of its most important manufacturing locations.
Fast Retailing Co., Ltd. opened a production office in Bangladesh in 2008, which has contributed to the development of the local textiles industry. The company’s partner factories in Bangladesh continue to produce Fast Retailing products, including UNIQLO items. Fast Retailing also remains committed to improving the lives of people in Bangladesh, with initiatives such as the Women’s Empowerment Program, which supports the development of women aspiring to leadership positions in garment factories in partnership with UN Women.
The closure of Grameen UNIQLO’s stores in Bangladesh will undoubtedly be disappointing news for its loyal customers. The company expressed its sincere gratitude to them for their ongoing support of the business over the years. Nevertheless, Fast Retailing Co., Ltd. will continue to work towards improving the lives of people in Bangladesh through its various initiatives.