Wednesday, 11th April 2012
In Business In Japan,
Japanese department store eyes overseas expansion
A top department store chain from Japan is planning to open new stores abroad as it looks to international expansion as a way of combating slowing domestic sales.
Takashimaya Co is planning to open new stores in China and Vietnam as well as Taiwan and Singapore in a bid to open up new markets for its business, the Mainichi Daily reported.
It currently boasts two overseas stores, in Singapore and Taiwan and the company's president Koji Suzuki believes that further overseas expansion can eventually generate revenues of 35 billion yen per year.
"By 2016, we will have eight stores in four countries," he told the news provider.
Back in Japan, Takashimaya Co will focus on investing in its existing stock of stores, reducing barriers for consumers and improving its women's fashion business.
Meanwhile, Japanese carmaker Nissan has announced that it is to invest £127 million building its new hatchback vehicle at its plant in Sunderland, England.
Written by Susan Ballion