Grameen UNIQLO to close business in Bangladesh

Clothing brand Grameen UNIQLO will close all of its outlets in Bangladesh by June 18, partly due to "changes to its business environment”, according to a notice on their website.

In 2010, the Grameen Bank Group and Uniqlo, a Tokyo-based apparel company owned by Japan's Fast Retailing Co, launched their joint venture. The retailer now runs 10 locations.

“Since 2013, we have opened stores mainly in the capital city of Dhaka and conducted business with the aim of improving the lives of the people of Bangladesh by providing clothing to meet the needs of local daily lives and by creating opportunities for employment in safe environments,” the company said in a statement.

Fast Retailing Co, however, remains committed to Bangladesh, calling the country one of its most important manufacturing locations, according to the statement.

“In 2008, the company opened a production office which contributes to the development of the local textiles industry, while our partner factories in Bangladesh continue to produce Fast Retailing products, including Uniqlo items,” the notice says.

Fast Retailing will continue working to "improve the lives of people" in Bangladesh, and the initiatives include its Women's Empowerment Programme.

The programme was launched in partnership with the UN Women in 2019 to support the development of Bangladesh’s women who aspire to leadership positions in garment factories.