Uniqlo, a Japanese apparel giant with 3000 outlets worldwide, recently visited Pakistan and met representatives of five companies from Karachi, Faisalabad and Lahore.
In the initial visit of the Uniqlo’s representatives, three companies have been selected for joint ventures with Uniqlo Inc.
The company has requested to onboard a couple of companies for circular cutting, shirt fabric and sewing etc. Another team will visit Pakistan this month to meet with the companies and finalize the initial agreements.
The deal, if finalized, will bode well for Pakistani textile industry, which contributes to 60% of the total exports.
According to a Pakistani news agency report, any significant move by Uniqlo into Pakistan for investment and procurement will generate a ripple effect that will boost the textile export. From its factories, Uniqlo supplies apparels to its more than 3,000 sales outlets all over the world.
Over the past decade, Pakistani textile exports’ share has seen a negative growth from 2.2% to 1.7%. However, the textile exports witnessed a growth of 9% in the fiscal year which ended in June.
The world’s biggest cloth retailer, Inditex Group, which also owns world-renowned fashion brand Zara, decided to double its imports from Pakistan in February due to which, the company opened up an office in the country.
