A Japanese apparel giant with 3000 outlets worldwide, Uniqlo, is in talks with Pakistani companies to outsource textile garments.
In the initial visit of the Uniqlo’s representatives, which proved to be a successful one, they met with five companies from Karachi, Faisalabad and Lahore; three companies are now finalized for joint ventures with Uniqlo Inc. which is a subsidiary of a larger group, Fast Retailing Inc.
The company has requested to onboard a couple 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.
An official, talking to a news agency said:
Any significant move by Uniqlo into Pakistan for investment and procurement will generate a ripple effect. It will boost textile export. From its factories, Uniqlo supplies apparels to its more than 3,000 sales outlets all across the world.
Over the past decade, Pakistani textile exports’ share has trickled down 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.
Other foreign buyers include Target and JC Penny, Li and Fung Pakistan, Walmart Global Procurement and IKEA.
Image Source: Primer
Via The News