Uniqlo India net profit rises 41% to Rs 253 cr in FY26; co bets

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The Economic Times daily newspaper is available online now. Read Today's Paper Uniqlo India net profit rises 41% to Rs 253 cr in FY26; co bets on expansionBy Sagar Malviya, ET BureauLast Updated: Oct 19, 2026, 12:30:00 AM ISTSynopsis

Uniqlo reported a significant increase in revenue for the year ended March 2026. The revenue rose 44% year-on-year, reaching ₹1,724 crore as net profit also increased. This growth occurred despite challenges faced by other apparel retailers in India. Uniqlo plans to expand its presence through new stores and enhance customer engagement via digital platforms. The Indian apparel market is projected to grow significantly in the coming years.

Mumbai: Uniqlo's India revenue rose 44% year-on-year to ₹1,724 crore in the year ended March 2026, underscoring the Japanese clothing retailer's growing foothold in one of the world's fastest-expanding apparel markets. Net profit at Uniqlo India rose 41% to ₹253 crore, according to its filings with the Registrar of Companies. Asia's biggest clothing brand, which opened its first door in India seven years ago, has more than quadrupled revenues since FY22 from its over 20 stores, as it seeks to expand international business alongside rivals Zara and H&M.

"The company remains confident in the long-term growth potential of the Indian market and plans to expand its presence through new stores in both existing and untapped markets. It also aims to enhance customer engagement through its mobile app and ecommerce operations," Uniqlo in the filing. The performance contrasts with a slowdown at some established apparel retailers in India. Zara, operated locally through a JV between Inditex and Tata's Trent, reported 1.2% decline in revenue to ₹2,749 crore in FY26; Shoppers Stop's revenue grew 9% to ₹5,043 crore. Aditya Birla Fashion and Retail reported 11% revenue growth to ₹8,177 crore.

India's apparel market is projected to expand to $146 billion by 2029 from $96 billion in 2025, as per a CMAI-1Lattice report, offering international brands room to grow as they compete for consumers with domestic retailers and online platforms.

Also Read | Textiles ministry plans 5,000-10,000 new exporters in 2-3 years

Uniqlo is competing against Inditex's Zara and H&M, both of which have extensive international store networks and established positions in affordable fashion. Zara's strength lies in responding quickly to changing trends, while H&M combines fashion-led collections with a broad international footprint.

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Uniqlo's strategy differs from the fashion model associated with Zara and H&M. Rather than relying primarily on frequent trend-led collections, it has built its proposition around everyday basics and functional clothing.

Also Read | Potential US tariffs threaten India's textile, apparel exports after Russia sanctions law: CITI report

In its global annual report, the group said Southeast Asia, India and Australia had delivered double-digit revenue growth for four consecutive years since FY22 and offered greater potential. Fast Retailing aims to achieve annual sales of ¥100 billion- about $633 million-in each country, saying it would strengthen management teams and adapt product ranges, marketing, stores and ecommerce operations to tropical climates.
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