Japan-based Fast Retailing Co., which is parent company of Uniqlo, has signed an agreement with the Indraprastha Institute of Information Technology Delhi (IIIT-Delhi) to create the Fast Retailing Educational Sponsorship Programme for students with high potential who seek financial assistance.
The initiative will help promising students become global leaders of tomorrow. Through this initiative, Fast Retailing is further showing its continual commitment to Indian society since opening its production office in September 2016, its first Uniqlo store in Delhi in October 2019, and officially launching its e-commerce business in India last month with the new Uniqlo online store.
“From the very beginning of our discussions with corporate and Government leaders in India, I have been impressed by the exceptional talent, ambition and diligence of the young people I have met”, said Tadashi Yanai, Chairman, President and CEO, Fast Retailing.
He further added that we hope that our new programme will foster the skills that both India and our company will need in the future and help young talented individuals to become business leaders on the global stage. I believe these premier universities are uniquely well-placed to fulfill this mission.
The educational sponsorship programme will be funded by Fast Retailing and cover full tuition and related costs for a total of five freshman students a year, covering the full four-year period for a bachelor’s degree and two-year period for a master’s degree.
While the structure of the programme will be determined by the university to ensure it provides maximum benefit, recipients will be able to participate in Japanese language and culture studies and intern at Uniqlo India.
Candidates who pass certain milestones will also be eligible to join Fast Retailing in Japan or Uniqlo in India, to help leverage skills they gain during their studies.
The latest initiative is also part of a global commitment by Fast Retailing, through the Fast Retailing Foundation, to offer educational programmes for young individuals to pursue a career in particular areas of interest. Amongst them are the Global Graduate Fashion Scholarship for talented students to study at world-class fashion graduate schools, and the Harvard Business School Scholarship, which provides educational opportunities to Japanese students.
Professor Ranjan Bose, Director, IIIT-Delhi said, “IIIT-Delhi is a young and agile Institute that is fast accelerating on the path of becoming one of the leading comprehensive research-led teaching institutes in India. It has proven to be consistently responsive towards the evolving needs of society. The partnership with Fast Retailing will provide further impetus to our vision of being socially relevant, industry facing and globally connected.”