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Tag: Japan

  • Mitsukoshi eyes first quarterly loss in eight years

    Mitsukoshi eyes first quarterly loss in eight years

    Japanese department-store chain Isetan Mitsukoshi is likely to report its first loss over a single financial quarter in eight years, according to Asia Nikkei.

    Losses of ¥5–10 billion (US$46.6–93.2 million) are expected to reflect the impact of the coronavirus pandemic that has seen most Japanese consumers remaining at home during mall operating hours.

    The loss is a steep decline from the firm’s profits of ¥3.7 billion ($34.5 million) recorded during the same period last year.

    Isetan’s department stores were hit with a 7-per-cent drop in sales during January that ballooned to 16 percent in February, and 40 percent in March as Japan’s Covid-19 lockdown intensified.

    Prospects for the retailer remain unclear, as it is yet to be seen if and how rapidly customer behavior will return to normal following the pandemic. In preparation for an uncertain period, the firm has been stocking up on cash and is currently negotiating with banks for further financing.

    Isetan rival Seiyu has reported strong retail activity following the Japanese administration’s stay-at-home request as consumers sought to stock up on food and other daily necessities. The firm has offered a special bonus of up to ¥15,000 ($140) to store workers as it now faces a staffing shortage, and is seeking 3000 new hires.

  • Tan Mujiang opens Japanese flagship

    Tan Mujiang opens Japanese flagship

    Chinese wooden-comb retailer Tan Mujiang has opened a new Japan flagship store.

    Located at Musashino city, the Japanese store houses a wide range of Chinese handcrafted combs made from natural materials with “beautiful shapes, smooth lines, exquisite textures and rich colours”. The Musashino store is the second flagship store in Japan after Tokyo, which opened last November.

    Since 2013, the company has obtained more than 80 patents, providing supplies to more than 1200 shops in Mainland China, three in Hong Kong and one in Taiwan.

    Tan Mujiang operates seven international flagship stores including in the US, Singapore, Germany and Japan. The US store is at at Flushing Main Street in New York City.

  • Japan’s Lixil Group launches on JD.com

    Japan’s Lixil Group launches on JD.com

    Japanese housing equipment company Lixil Group has launched a flagship store on JD.

    The digital flagship marks the Tokyo-based company’s first foray online, where it will showcase a curated collection of 150 products from four of its brands: Grohe, American Standard, Lixil Kitchen, and Inax. The products range from ceramic bathroom items and bathroom cabinets to shower fittings and one-stop kitchen fit out solutions, all aimed at Chinese consumers.

    In a statement, JD said demand among Chinese consumers for high-quality home products had increased during the coronavirus pandemic as people spent more time at home.

    China’s home-decoration market is expected to reach RMB 3.2 trillion (US$454.3 billion) by 2023, and Chinese consumer demand for high-end home decoration products is on the rise.

    Besides showcasing products, Lixil has professional designs on call to provide shoppers with free design consultations for JD customers.

    “The cooperation with Lixil Group significantly enhances JD’s offering for mid to high-end smart kitchen and bathroom products,” said a JD spokesperson.

    “The partnership is also beneficial to JD’s home decoration supply chain, providing one-stop solutions for its customers. Lixil Group will provide an overall solution that can better meet the complex needs of high-end customers.”

    The new flagship is expected to be just the first step in a growing relationship between the two companies, which are now in the early stages of planning omnichannel solutions through offline stores and other digital initiatives.

  • Takashimaya about to offer financial services in Japan

    Takashimaya about to offer financial services in Japan

    Takashimaya is to sell financial products and services in partnership with an online securities company, SBI Securities.

    According to Nikkei Asian Review, the department store is targeting its wealthy but aging shoppers.

    Takashimaya plans to sell a wide range of financial products out of more than 2700 SBI offerings, which include investment trusts, foreign stocks, futures and options trading, FX, and domestic and foreign bonds.

    Takashimaya will also offer its customers in-store consultations to help consumers decide on their investments. The department store will play as an intermediary services provider with the customer accounts will be managed by SBI.

    SBI Securities is one of Japan’s largest online securities companies, providing a selection of financial products in nine markets including the US, Hong Kong, South Korea and Singapore.

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  • LVMH-backed L Catterton invests in Japanese cosmetics company Etvos

    LVMH-backed L Catterton invests in Japanese cosmetics company Etvos

    Japanese cosmetics brand Etvos has received a significant investment from global private-equity firm L Catterton’s Asia fund.

    The LVMH and Groupe Arnault-backed fund will partner with Etvos’s existing management to extend growth, with special attention to expanding store footprints and enhancing customer experiences.

    Following the completion of this investment, LVMH Japan president Norbert Leuret and Chanel G.K former special advisor Masatoshi Kuroda will join Etvos as non-executive directors to enhance the board composition.

    “This investment is a testament to the tremendous efforts and hard work of the Etvos team and we are pleased to partner with L Catterton as we accelerate our growth,” said Etvos CEO Hifumi Ogawa. “We look forward to leveraging L Catterton’s unmatched sector expertise and wide network of industry contacts as we expand our retail footprint, enhance the customer experience, and further expand our high-quality product portfolio.”

    The investment is L Catterton’s first in a Japanese cosmetics brand.

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  • Panic buying underpins Japanese retail sales growth

    Panic buying underpins Japanese retail sales growth

    Japanese retail sales have recorded a distinct uptick as consumers enter a panic-buying mode in response to the coronavirus outbreak, according to Nikkei Asian Review. According to the Ministry of Economy, Trade and Industry, Japanese retail sales rose 1.7 percent year on year in February.

    Pharmacy sales showed the highest rate of growth, surging 18.9 percent due to higher sales of protective masks and toilet paper, among other hygiene-related purchases.

    Supermarket sales increased 6 percent following increased purchases of consumer goods.

    By contrast, sales figures for department stores slipped 11.8 percent resulting directly from a drop in tourism.

    The slowing down of local business has concurrently seen a drop in employment figures, with fewer businesses seeking to fill positions.

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  • KFC Japan celebrates 50th anniversary

    KFC Japan celebrates 50th anniversary

    KFC Japan will celebrate its 50 anniversary this year.

    After its successful trial at the Osaka Expo in March 1970, KFC Japan was founded on July 4 in honor of Independence Day in the fast-food chain’s home country, the US.

    The first KFC Japan store was opened in the suburban location of Nagoya in November that year.

    Back then, the term “fried chicken” wasn’t widely used in Japan. However, KFC is now one of the country’s most popular fast-food chains, and has even become a tradition at Christmas.

    To celebrate the 50th anniversary, KFC Japan has designed a logo for the event and plans to roll out TV commercials and special menu items later in the year.

    “In the changing world, KFC Japan will continue to express appreciation by providing delicious taste through food,” the company said in a statement.

    “We will express our sincere thanks through our products, campaigns and activities during our 50th anniversary year and promise to continue to protect the ‘deliciousness that no one can imitate’.”

    Japan is the third-largest market for KFC after China and the US, with 306 outlets directly operated by the company in Greater Tokyo and 826 restaurants run by franchisees in regional areas.

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  • Aori Ramen chain collapses, hit by coronavirus, scandal

    Aori Ramen chain collapses, hit by coronavirus, scandal

    Japanese ramen chain Aori Ramen has declared bankruptcy after suffering from coronavirus and the boycott on Japanese goods in South Korea.

    All Aori Ramen branches will be shut down, including those in Malaysia and China.

    According to Koreaboo, Aori F&B filed for bankruptcy with the Seoul Bankruptcy court with its debts exceeding the value of its assets.

    Aori F&B said after its founder Seungri was involved with the Burning Sun scandal, the company experienced major losses with sales plunging by more than 50 percent. Aori F&B then cut ties with the South Korean singer, hoping the restaurant would gain its customers back.

    The company also stated in a statement that the South Korean consumer boycott of Japanese goods also affected its business. With the subsequent coronavirus outbreak decimating restaurant patronage it is no longer able to pay its debts.

    The Seoul Bankruptcy Court’s decision has yet been made as the court wants to investigate further the Aori F&B’s ability to pay its debts.

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  • Starbucks Japan launches Smart Lounge railway station concept

    Starbucks Japan launches Smart Lounge railway station concept

    Starbucks Japan has launched a new concept store in collaboration with railway operator JR East.

    The “Starbucks Coffee Takanawa Gateway Station” opened yesterday, introducing its Smart Lounge concept – a store space focused on business use. The store features numerous semi-private and single-seat seats to meet the needs of using a cafe for work purposes as well as a large table used for meetings with multiple people.

    Two fully-private booth-style share offices are provided within the store. Power outlets are available for all seats, and the store also operates a mobile battery sharing service. Wifi is available throughout the premises.

    The cafe also specializes in speedy cashless payment via Starbucks Card and Suica, among other e-payment platforms. Via a dedicated app, it allows customers to settle orders in advance and receive products smoothly at stores, designed to allow more effective use of time and reduction of waiting time at cash registers.

    “Starbucks has more than 1500 stores nationwide and connects with 800,000 customers a day,” said Starbucks Japan head of store development Kazuhiro Ishihara. “Each store has its own personality and expression that reflects the locality and needs of each individual.

    “At the Takanawa Gateway Station, we provide a smart and comfortable experience that suits its location and purpose, and integrates with people’s lives to create a future city that no one has yet seen. We aim to be a store and base that can be created with people.”

    Takanawa Gateway Station is situated in Shinagawa town, a new urban area under development that aims to be a new gateway to Tokyo.

    JR East aims to operate 30 shared office spaces by the end of the financial year.

  • Venus Tears opens flagship store in Singapore

    Venus Tears opens flagship store in Singapore

    Singaporean and Japanese Bridal jewelry brand Venus Tears has opened a flagship store off Orchard Road.

    Located inside Wisma Atria shopping mall, Venus Tears features wedding bands and engagement rings which are designed and manufactured in Japan. The brand also offers customization of jewelry, ensuring the uniqueness of each item for its customers.

    “Our goal with this new bridal jewelry shop is to make access to our high-quality products even more convenient,” said a spokesperson.

    To mark the launch, Venus Tears flagship store introduced three new lines that are popular in Japan: Colany, Ankhore and Aimokume.

    Venus Tears originally started in Singapore and developed stores in Japan. It is now operating eight outlets in both countries.

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  • Giant Japanese sports store Alpen to open next month

    Giant Japanese sports store Alpen to open next month

    Japanese sports and outdoor goods retailer Alpen Co is set to launch Kanagawa’s first experience-based store late next month.

    The Alpen Outdoors LaLaport Yokohama store will handle more than 40,000 predominantly outdoor-related products under 200 brands. Alpen’s new location will be offering products in two formats, “Alpen Outdoors”, which will cover the entire light outdoor product range for activities such as camping and hiking; and “Alpen Mountains”, which focuses more on mountaineering. The store offers a tent trial experience with a realistic camp atmosphere.

    Popular outdoor brands Coleman and Snow Peak have shops-in-shops at the store with dedicated support staff.

    Alpen currently operates 11 stores nationwide, including a flagship in Kashiwa, which opened in April last year and is one of the largest in the world.

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  • Chopard Japan opens flagship boutique in Osaka

    Chopard Japan opens flagship boutique in Osaka

    A new Chopard Japan flagship store has opened in Osaka, its design upgraded to reflect the latest styles of the French jewelry brand’s European boutiques.

    Chopard Boutique Hankyu Umeda Honten “embodies the spirit of the Maison” according to a Chopard Japan statement.

    “A boutique that combines the warmth and comfort of an elegant yet homely atmosphere, a place where every visitor can feel at home – a relaxing space that feels like a private residence,” the company said describing the design.

    “We welcome customers with a wide range of products, from the maison’s icon collection, Happy Diamonds, to magnificent high jewelry, to full-fledged mechanical men’s watches that go through integrated production.”

    Reflecting the maison’s commitment to sustainability, since July 2018 Chopard has exclusively used 100-per-cent ethical gold for all watch and jewelry production.

    The Chopard Japan boutique is located on the sixth floor at 8-7 Kakudacho, Kita-ku, Osaka-shi.

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  • Isetan leaving Thailand

    Isetan leaving Thailand

    Japanese department-store chain Isetan will quit Thailand later this year after 28 years operating in Bangkok.

    The company says it will not renew the lease of its space in the CentralWorld shopping center when it comes up for renewal in August.

    However, Isetan and CentralWorld’s owner Central Pattana may discuss a plan for the Japanese restaurant zone on the top floor, in which Isetan tenants operate effectively as concessions.

    The Isetan department store opened at CentralWorld back in 1992 when it was called the mall was called World Trade Center.

    The last major renovation of the space opened in December 2015, a food concept called Washoku Gallery.

    In keeping with the department store’s heritage, the gallery features food products imported from Japan. The company said at the time that Japanese food and culture is broadly liked by Thailand’s urban consumers and Isetan wanted to tap into that growing demand.

  • Japan’s Maruya opens first overseas store

    Japan’s Maruya opens first overseas store

    Osaka-based drugstore Maruya has made its international debut in Hong Kong with its first store in Sheung Shui, a prominent ‘border town’ notorious for parallel traders.

    The drugstore will feature imported Japanese goods including cosmetics and daily necessities, at the same price as in its Japanese stores. Additionally, consumers can also make customized requests for specific medicine and the retailer will offer an independent quotation and arrange the logistics and delivery direct from Japan.

    Amidst the low consumer confidence during the coronavirus crisis, the brand’s website strongly emphasizes its quality assurance and its Japanese authenticity.

    For an opening promotion, Maruya is offering complimentary surgical masks with purchases.

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  • Starbucks opening signing store in Tokyo

    Starbucks opening signing store in Tokyo

    Starbucks Japan is to open its first signing store in early Summer 2020 in Kunitachi City, Tokyo.

    Launched for the convenience of the deaf and hard of hearing, the new Starbucks outlet will provide service to customers in Japanese Sign Language. Signing stores have previously opened in Malaysia, Washington DC, and China. The store will be the first of its kind in Japan and the fifth globally.

    Deaf and hard-of-hearing staff will work alongside hearing partners to provide service to customers. The store is located close to a school for the deaf.

    A statement from the firm read “Starbucks aspires to become a people positive company where we uplift each other, our customers, and the communities we serve. Since 2018, Starbucks Japan has taken a ‘no filter’ approach to diversity and inclusion to create a place of belonging where partners can bring their best selves to work, without prejudice, assumption or bias toward race, age, gender, position, employment status, disability, personal values, or any other basis.”

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