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Because the holding company
SAPPORO, Japan (ANTARA/Kyodo JBN) – Nitori Holdings Co., Ltd., headquartered in Sapporo, northern Japan, announced that it will open its first Nitori store in Indonesia, aiming to accelerate the opening of more stores in the Asian market. The first store in Indonesia will open in July at Central Park Mall, one of the largest shopping malls in Jakarta.
image: https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202406192387/_prw_PI1fl_G5Y6nrGG.jpg
Nitori is the largest furniture and home furnishing retail chain in Japan, with a vision of opening 3,000 stores and achieving sales of 3 trillion yen by 2032, and a mission statement of “making the home life of people around the world more colorful”. The main business of the Nitori Group is opening “Nitori” stores that sell furniture and home furnishing products. The group also has a wide range of businesses, such as “Deco Home” stores that sell home furnishing products centered on daily necessities, “Shimachu” home improvement stores that sell hardware, daily necessities and furniture, and “N Plus” stores that sell adult women’s clothing. The group has 828 stores in Japan and 184 stores in other parts of the world, including mainland China, Hong Kong, Taiwan, South Korea, Malaysia, Singapore, Thailand, Vietnam and the Philippines, for a total of 1,012 stores. Last year, a total of 340 million customers visited the group’s stores. With the number of shoppers exceeding 100 million, it can be said that Nitori is the number one home furnishing store in Asia.
The Group has established a comprehensive business model from product planning to manufacturing, distribution and sales to provide “unexpected surprises”, high-quality and low-cost products of all kinds. In the process, the Group has established a network of many partner companies, as well as its own factories and trading companies in Asia. Together with many business partners, the Group is striving to provide people around the world with suggestions for creating a pleasant, affluent and fully coordinated living space.
The Asian market, which is expected to grow significantly, is crucial to the realization of the Group’s mission and vision. Therefore, the Group will accelerate the pace of store openings and expand its store network as one of its top priorities.
The group believes that Indonesia is a valuable market as the country has successfully used its demographic structure to promote economic growth and become one of the fastest growing countries in Asia. The group aims to open 80 stores by 2032 and plans to establish a store network as early as possible.
This time, in addition to Indonesia, the group also plans to open its first store in India. By the end of fiscal 2024*, the group plans to add 116 stores in Asia, including countries where it already has stores and new countries. In total, the group will have 295 stores in Asia outside of Japan. In order to realize its vision by 2032, the company plans to open more than 200 overseas stores each year in the near future.
※Nitori’s fiscal year (FY) is from April 1 to March 31.
The first store in Indonesia will open in July:
– Facility Name: Central Park Mall
– Location: L2-202, Jl. S. Paman Lt. Knight. 28, Tj. Duren Regency, Div. Grogol Petamburan, West Jakarta, Special Capital Region of Jakarta 11470, Indonesia
*Details will be announced later.
Comments from Akio Nitori, Representative Director and Chairman (CEO) of Nitori Holdings Co., Ltd.:
“With our mission of ‘Enriching the homes of people around the world,’ we aim to become a company where customers around the world feel ‘glad NITORI is here.’ We will accelerate our presence in the Asian region, which is expected to achieve significant economic growth in the long term and is the core of the supply chain that supports the Group. With your support, we have opened 1,000 stores around the world. We are very excited to bring NITORI products to more countries, regions and customers.”
Masanori Takeda, Executive Vice President of Overseas Business, General Manager of Global Commodity Division, and General Manager of Global Sales Promotion Office of Nitori Holdings, commented:
“We are accelerating store openings in the Asian region and opened our first stores in Thailand, Hong Kong, South Korea, and Vietnam last year. In April this year, we also opened our first store in the Philippines. Since then, we have received countless supports from many customers. Our goal is to open 2,000 stores overseas and achieve sales of 1 trillion yen by 2032. We will continue to take on the challenge of providing the same quality standards refined in Japan to the Asian region and to deliver ‘unexpected surprises’ to customers around the world.”
About the NITORI International Scholarship Foundation
In March 2005, Akio Hiratori, the founder of the group, donated his personal financial resources to establish the Hiratori International Scholarship Foundation to give back to Asian countries and regions for their great help and support for the group’s goals. In addition, he also provides free scholarships to contribute to the promotion of friendship and talent cultivation among countries around the world. As of March 31, 2024, the foundation has provided funding for 10,732 students in 47 countries and regions around the world, totaling 5.04 billion yen.
Map of countries and regions where students are located:
https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202406192387/_prw_PI2fl_J389zUrW.jpg
About Nitori Holdings Co., Ltd. (Nitori Group):
https://cdn.kyodonewsprwire.jp/prwfile/release/M106920/202406192387/_prw_PI3fl_2Yv37hWM.jpg
related information
Company website: https://www.nitorihd.co.jp/
Comprehensive Report: https://www.nitorihd.co.jp/en/ir/library/annual.html
Nitori International Scholarship Foundation website (Japanese): https://www.nitori-shougakuzaidan.com/
NITORI Indonesia: https://www.nitori.co.id/
Source: Nitori Holdings Co., Ltd.
Reporter: PR Wire
Editor: PR Wire
Copyright © ANTARA 2024
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