Takashimaya plans Malaysian foray

Malaysia is likely to be the next market of Japanese department store Takashimaya.

Officials of Takashimaya Singapore, a unit of the Japanese chain, have been reported to have visited Malaysia to scout possible locations.

“They were here to look for locations, economy, spending power, possible positioning and potential target market,” a source told The Edge newspaper.

Malaysia is attractive to many retailers due to its retail sales predicted to grow to 98 billion ringgit ($29.8 billion) this year. It has attracted Japanese retailers including Aeon, Uniqlo, Isetan, Daiso and 100 Yen Shop.

Takashimaya operates 20 department stores in Japan. The company, through its Singapore unit, also plans opening a store at Saigon Centre in Ho Chi Minh City, currently under expansion and scheduled to open in 2015.

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