Announcing closure of its operations in Bangladesh by June 18, Grameen UNIQLO has said they have determined that their company has fulfilled a certain role.
"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.
“We sincerely thank our customers in Bangladesh for their ongoing support to Grameen UNIQLO over its period of operation,” reads the notice.
In 2010, Fast Retailing Co. Ltd, parent company of Grameen UNIQLO, started the social business together with the Grameen Bank Group with the aim of responding to social issues such as poverty, health and education in Bangladesh through a clothing business.
Since 2013, Grameen UNIQLO has opened stores mainly in the capital 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.