What is Uniqlo stand for?

I'm curious, can you explain to me what the acronym "Uniqlo" stands for? I've seen their clothing stores around and their products are quite popular, but I've never actually understood the meaning behind the name. It seems like a unique and catchy name, so I'm eager to learn more about its origins. Do you know what the initials "Uni" and "qlo" represent? I'd love to hear your take on this.