dotdailydose
Aiming to accelerate more store openings in the Asian market, Nitori Holdings Co., Ltd. has launched the 1,002nd Nitori branch located in MITSUKOSHI BGC, and the first-ever store in the Philippines.
“Nitori is here to offer a wonderful store and give a lot of convenient product for the Filipinos to enjoy and enrich their lives,” said Masanori Takeda, Executive Vice President, In Charge of Overseas Businesses, Nitori Holdings Co., Ltd. “Our goal here is also to cater to the economic growth of the Philippines as we create more products which are affordable and can help the lives of many Filipinos as well.”
Based in Sapporo, Nitori is Japan’s largest furniture and home-furnishing retail chain. Its vision is to operate 3,000 stores and achieve sales of 3 trillion yen by 2032, based on the mission statement “To enrich the homes of people all over the world.”
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 business operations such as “Deco Home” stores that sell home-furnishing products with a focus on daily necessities, “Shimachu” home improvement stores that sell hardware, daily goods, and furniture, and “N Plus” stores that sell apparel for adult women.
The Nitori Group has built a business model, encompassing everything from product planning to manufacturing, distribution, and sales, to provide a wide variety of products that “offer the unexpected” of excellent quality at low prices.
Mr. Tekada added: The key to be able to make that possible is by manufacturing the products via own factory without using any third party or without forcing it through another company. And that makes the the affordability more possible. If you would look into some of our products from furniture, the curtains, and you can also find great beddings, like the sheets that actually have a cooling effect, are all made manufactured by our own company. More than half of our products are made by our own factory, which makes it available at a cheaper, affordable price.
In the process, Nitori has built a network in the Asian region consisting of many partner companies and its own factories and trading companies. Along with numerous business partners, Nitori is striving to propose the creation of enjoyable, prosperous, and coordinated living spaces for people all over the world.
The Asian market, where significant growth is expected, is important for the realization of the Nitori Group’s mission and vision. Hence, it has positioned the expansion of its store network by accelerating store openings as one of its top priorities. Nitori has opened 822 stores in Japan and 179 stores in foreign countries/regions around the world, such as Mainland China, Hong Kong, Taiwan, the Republic of Korea, Malaysia, Singapore, Thailand, and Vietnam. Furthermore, Nitori plans to open new stores in Indonesia and India. And in the near future the company aims to open more than 200 overseas stores per year in the near future to reach 4,000 store by 2032.
Due to the size and the potential growth of the Philippines’ population and the economy, Nitori has been seeking opportunities to enter and expand its stores in the country for a long time. The company will continue to build the store network, aiming to open 65 stores by the end of 2032.
Meanwhile, Kazuya Endo, Ambassador of Japan to the Philippines, said that the entry of Notori into the Philippine market is a testament to the growing and enduring economic ties between the two nations. It is a clear demonstration of Japan’s continued investment in the Philippines and Japan’s belief in the potential of this vibrant and dynamic markets.
According to DTI Secretary Alfredo Pascual, the opening of Nitori’s first store in our country is a significant milestone reflecting the growing economic ties between Japan and the Philippines. It’s a great story to hear about the collaborative efforts that made this possible.
“The presence of Nitori here brings us closer to our goal of weaving together these cultures and creating a remarkable lifestyle experience in one of the country’s most desirable locales,” said Federal Land Chairman Alfred V. Ty.
Nitori is located at Unit 0301-0303, Third Floor of MITSUKOSHI BGC, 8th Ave. Corner 36th St. Grand Central Park, North BGC, Taguig City. For more information, visit https://www.nitori.com.ph/.
