Grameen Uniqlo shuts down ahead of schedule

Clothing brand Grameen Uniqlo today shut down all their 10 outlets in Bangladesh, including eight in Dhaka, ahead of their June 18 scheduled closure due to "stock unavailability".

"We regret to inform you that all our stores must close permanently on May 30 due to stock unavailability," said the website of the brand, a joint venture of Japanese multinational retail company Fast Retailing Company Ltd and Grameen Healthcare Trust.

"Though we previously announced stores would close on June 18, we experienced overwhelming support over our clearance sale campaign. All stock at all stores has now been sold out, ahead of our previously-announced date," it said.

"There was an estimate of how long it would take to sell the products we had," Md Shoriful Islam, assistant general manager for marketing, told The Daily Star.

But after the May 10 closure announcement, the products fast sold out, he said.

The company opened in 2010 "with the aim of responding to social issues such as poverty, health and education in Bangladesh through a clothing business".

"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," says the company.

Fast Retailing said it would continue running other initiatives in Bangladesh such as a Women's Empowerment Program launched in partnership with UN Women in 2019 to support the development of women in leadership positions in garment factories.