Grameen Uniqlo, the social business initiative of Japanese First Retailing Co., Ltd., has closed down all its retail outlets in Bangladesh, ahead of the scheduled deadline of 18th June.
Reports maintained this adding Grameen Uniqlo had to go for an early closure citing unavailability of stocks even as on 10th May, it had announced winding down its business in the country.
It may be mentioned here the Japanese Fast Retailing Company Limited established Uniqlo Social Business Bangladesh Ltd., in 2010 in partnership with the Grameen Bank Group’s Grameen Healthcare Trust even as the new venture ‘Grameen Uniqlo’ was launched in August 2011, aimed at responding to social issues like education, poverty and health and in the country.
The company initially operated only in the rural areas before starting to sell its products in the capital Dhaka.
Meanwhile, a message on the brand’s website added that it regrets to inform everyone about the permanent closure of stores on 30th May due to unavailability of stock while adding it received overwhelming support for its clearance sale campaign.
