Ginza Six, one of the largest commercial complexes in Tokyo’s Ginza district, will open tomorrow.
At Ginza’s 6-chome block, the retail venture was jointly developed at a cost of about ¥86 billion (US$12.4 billion) by companies including J. Front Retailing, which runs the Daimaru and Matsuzakaya department stores, and Mori Building.
Ginza Six has about 47,000 sqm of sales space – larger than the neighbouring Ginza Mitsukoshi and Matsuya Ginza department stores. With its open ceiling structure, the complex has 241 retail outlets, mainly overseas luxury brands including Christian Dior and Fendi.
French luxury house Saint Laurent will have its second flagship store for Tokyo across three floors at Ginza Six.
Its 17m backlit black marble facade comprises 18 noren panels (traditional fabric dividers) laminated with low-reflective glass. The store will feature pret-a-porter, accessories, shoes, sunglasses and jewellery for women and men.
Ginza Six’s owners are estimating it will draw 20 million customers and earn ¥60 billion in sales annually.
It occupies the site that was home for 90 years to Matsuzakaya Ginza, as well as other stores. Rather than buying and selling goods like a department store, Ginza Six runs on the rent from the outlets. “The same business model used in the past can’t be applied forever,” says J. Front Retailing president Ryoichi Yamamoto.
Other retail developments in the area also mainly house outlets, such as Tokyu Plaza Ginza and Marronnier Gate Ginza, a renovation of Printemps Ginza that opened in March.
Ginza Six will attract foreign tourists as well as trigger consumption, says Mori Building president Shingo Tsuji. “This is one of the largest redevelopment projects in the history of Ginza. It will be a new symbol of Ginza.”
Attractions at the development include a noh theatre and a rooftop garden.