INSIGHTS
Takashimaya, which operates a chain of department stores, is considering opening 2 more in Southeast Asia as early as 2017, President Shigeru Kimoto said in an interview with The Nikkei. The Japanese company already runs a store in Singapore and will open another in Vietnam in the first half of 2016. Kimoto did not
Takashimaya plans 2 more department stores for Southeast Asia
Date: 2014/04/22
Source: Nikkei Asian Review
Takashimaya, which operates a chain of department stores, is considering opening 2 more in Southeast Asia as early as 2017, President Shigeru Kimoto said in an interview with The Nikkei.
The Japanese company already runs a store in Singapore and will open another in Vietnam in the first half of 2016. Kimoto did not say where the two additional stores in Southeast Asia will be located, but Indonesia and Malaysia are among the candidates.
The two stores will involve a combined investment of some $185 million.
Kimoto also revealed that Takashimaya will begin concentrating solely on Southeast Asia, instead of splitting its focus between there and China. The company had been considering opening a second store in China, but dropped that idea in favor of rehabilitating the troubled Shanghai Takashimaya. That store, which opened at the end of 2012, posted an operating loss of 1.5 billion yen in fiscal 2013 and is heading even deeper into the red this fiscal year.