Grameen UNIQLO has declared that it will cease its operations in Bangladesh by June 18, citing that they have fulfilled a specific objective.
“In view of Bangladesh’s significant economic development in recent years, as well as changes to its business environment, we have determined that our company has fulfilled a certain role and has decided to conclude its business activities,” said the company in an announcement shared on its website, reports UNB.
Grameen UNIQLO has declared that it will cease its operations in Bangladesh by June 18, 2023, citing that they have fulfilled a specific objective. The clothing brand expressed its regret that it will close all ten Grameen UNIQLO stores by that date.
“We sincerely thank our customers in Bangladesh for their ongoing support to Grameen UNIQLO over its period of operation,” reads the notice.
Fast Retailing Co. Ltd, the parent company of Grameen UNIQLO, launched the social business in 2010 in collaboration with the Grameen Bank Group, with the goal of addressing social concerns like as poverty, health, and education in Bangladesh through a clothing business.
Since 2013, Grameen UNIQLO has launched stores, primarily in Dhaka, with the goal of improving the lives of Bangladeshis by supplying apparel to fulfill the demands of their everyday lives and by generating chances for employment in safe places.