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Tag: Laox

  • Suning shutting half of its Laox store footprint in Japan

    Suning shutting half of its Laox store footprint in Japan

    Japanese electronics retailer Laox is to shut half of its stores in Japan as its customer base dried up due to Covid-19 social-distancing.

    Laox is managed by Chinese electronics giant Suning and the duty-free stores had been a popular location for Chinese tourists looking for Japanese appliances.

    The significant drop in the number of foreign tourists, especially those from China, has forced the company to close 12 outlets in the country to cut costs and improve cash flow.

    The 12 stores will include locations in Hokkaido, Kyushu, Tokyo and Okinawa.

    Since February, the company has twice called on staff to apply for voluntary retirement to restructure due to the financial impact of the pandemic. Laox recorded a net loss of US$18.1 billion for the March quarter.

  • Japanese tax-free store operator Laox Expanding in China

    Japanese tax-free store operator Laox Expanding in China

    Japanese tax-free store operator Laox plans to raise US$94 million to expand its activities in China and boost its e-commerce footprint.

    The company will issue shares to Granda Galaxy (a wholly-owned subsidiary of Suning Appliance Group), and Global Worker (a wholly-owned subsidiary of Chuben Sangyo).

    Once the funds are in the bank, Laox will further increase its investment in the Chinese market and expand its e-commerce business worldwide. Since entering the Chinese market in 2011, Laox has introduced high-quality Japanese goods and services to China through Suning’s online and offline platforms and its Tmall flagship store. In the future, Laox aims to become one of the largest suppliers of “Made-in-Japan” goods to better serve more Chinese local consumers, and plans to promote more quality products and consumption experience to other countries and regions through the Belt and Road Initiative.

    Suning believes Laox will further strengthen its close cooperation with the company in overseas purchase, commodity procurement, marketing and logistics services, thus increasing the Suning’s international influence and attracting more customers who are looking for better-quality goods.

    By the end of last year, Laox had 38 retail stores in the Japanese market, which had attracted nearly 2.5 million shop visitors in the year and achieved annual sales of about $1.12 billion.

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  • Laox lets Chinese tourists Flying to Japan pre-order duty-free

    Laox lets Chinese tourists Flying to Japan pre-order duty-free

    Tokyo-based duty-free operator Laox is allowing Chinese tourists to Japan to do their tax-free shopping online in advance of their visit.

    The duty-free goods will be listed on an Alibaba-hosted website, allowing consumers to purchase their goods online and pick them up at Laox locations of their choice within Japan up to a month following the transaction. Travellers will need to show purchase records on their phone and present their passports to be eligible for tax exemption.

    The number of goods available for purchase on the website is expected to grow to about 5000 items from the roughly 100 currently available already.

    The service is launching during a period of stagnation in the Chinese tourist market, as Japanese retailers face intensifying competition.

    Laox’s strategy is intended to spare shoppers the inconvenience of hunting for the products they want within physical stores. It is the first such scheme hosted on an Alibaba site.

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  • Laox opens new Osaka store

    Laox opens new Osaka store

    Japanese duty-free retailer Laox has opened its eighth store in Dragon Gate Building, Osaka.

    Called “Laox Osaka Dotonbori Ebisubashi Store”, the exterior of the first floor and second floor is covered with glass, making this a street-level store with a characteristic design that attracts the attention of passersby.

    The store specialises in personal items such as cosmetics, hair and beauty products, and home electronics, as well as Japanese-made watches, highly popular outside Japan, and collectibles such as figurines.

    Aiming to appeal to a broad international customer base, the store is located on the popular ‘Dotonbori’ nightlife and retail precinct.

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