Grameen Uniqlo to close all clothing stores in Bangladesh

'Changes to the business environment' were cited as a reason for the pullout

Grameen Uniqlo will close its social business in Bangladesh by Jun 18, partly due to "changes to its business environment”, according to a notice on their website.

Tokyo-based clothing brand Uniqlo owned by Japan’s Fast Retailing Co, started its business together with the Grameen Bank Group in 2010. The retailer currently operates 10 stores.

“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.

“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,” the company added.

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.