Department store chain Parkson will debut in Myanmar this month with the first store to open in Yangon.

The department store will occupy 43,000 sqft at the fourth floor of FMI Center.

Parkson’s expansion into Myanmar is a joint venture between Parkson Retail Asia, Yoma Strategic Holdings and First Myanmar Investment (FMI). The joint venture is said to have a paid-up capital of US$3 million.

Another Parkson store is planned within four years once the first store is well established in the market.

Parkson Retail Asia runs 54 stores in Malaysia, Vietnam and Indonesia.