NITORI ENTERS SOUTHEAST ASIA MARKET, OPENING FIRST STORES IN MALAYSIA, SINGAPORE NEXT YEAR

KUALA LUMPUR, Dec 16 (Bernama) -- Nitori Holdings Co Ltd has announced its entry into the Southeast Asian market.

The first Nitori store, which sells furniture and home-furnishing products, will open a ‘NITORI LaLaport BUKIT BINTANG CITY CENTRE’ store in Malaysia in January next year, followed by the opening of a ‘NITORI ORCHARD’ store in Singapore in March.

Nitori is Japan's largest furniture and home-furnishing retail chain, and its vision is to open 3,000 stores and achieve sales of 3 trillion yen by 2032, based on the mission statement “To enrich homes around the world.”

According to a statement, the main business of the Group is opening ‘Nitori’ stores that sell furniture and home-furnishing products.

The Group also operates ‘Deco Home’ stores that sell home-furnishing products with a focus on daily necessities, ‘Shimachu’ home improvement stores that also sell furniture, hardware and daily goods, and ‘N Plus’ stores that sell apparel brands for adult women.

The Group has opened 692 stores in Japan and 88 stores in Mainland China, Taiwan and the United States. It would like to achieve further growth to realise its mission and vision by opening more stores in other regions and expanding its e-commerce business, including opening stores in Southeast Asia.

The first Nitori store in Southeast Asia will open in January 2022, in the ‘Mitsui Shopping Park LaLaport BUKIT BINTANG CITY CENTRE’ in Malaysia. The second store in Malaysia is planned to open in Q3 2022.

Meanwhile, the first store in Singapore will also open in March 2022 on Orchard Road, the largest main shopping street in Singapore.

This is just the first step in Nitori's expansion into the Southeast Asian market. Over the next five years, it plans to open 20 stores in Malaysia and 10 stores in Singapore.

More details at https://www.nitorihd.co.jp/en/

-- BERNAMA