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Japanese furniture giant Nitori plans massive China expansion, VP Says 2025-02-11
Japanese furniture giant Nitori plans massive China expansion, VP Says
Nitori Holdings will significantly boost its store number in China over the coming years as part of its global expansion plans, according to the vice president of Japan's biggest furniture and home accessories retailer.
Global expansion is the main goal for Nitori's future development, Masanori Takeda, who is also director of the firm, told Yicai recently. The number of stores worldwide is planned to reach 3,000 by 2032, with 900 in the Chinese market, he added.
Nitori opened its 106th China outlet in Shanghai last month and all the shops in the country, including those yet to open, will be directly operated by the Sapporo-based company, Takeda noted. Unlike the large-store strategy in Japan, those in China will mainly be small and medium-sized ones closer to the communities, he said.
Shanghai is important for Nitori to expand into the Chinese market, Takeda said. The company has more than 20 stores in the east coast metropolis, with the figure expected to reach 100 by 2032, he pointed out.
In 2021, Nitori set up its China base in Shanghai's Xuhui district to manage its local investment decisions, fund management, research and development, and market management functions and strengthen its supply chain and service capabilities in the country.
Affected by the real estate market downturn, China's home furnishing industry has faced growth pressure, so Nitori launched products with higher consumption frequency in the market, including shoes, clothing, and pet food, Takeda said. If these products get a good market response, they will later be promoted to other markets, he noted.
Source: Yicai Global
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