The social business initiative of the Japan-based First retailing CO., Ltd., Grameen UNIQLO, has decided to close all its 10 stores in Bangladesh by 18th June.
This is as per a press release issued in this direction by the concerned entity, which went on to add considering the country’s (Bangladesh) significant economic development in recent years and changes to its business environment, Fast Retailing concluded that Grameen UNIQLO has achieved its intended purpose.
It may be mentioned here Grameen UNIQLO was established in Bangladesh in 2010 in partnership with the Grameen Bank Group, aimed at tackling social issues of the likes of health and education and poverty in the country even if since 2013, Grameen UNIQLO has been providing employment opportunities while also meeting the clothing needs of the people of capital Dhaka.
Incidentally, Fast Retailing established a production office in Bangladesh in 2008 even as it underlined it was committed to the country, which is one of its most vital manufacturing bases.