Loft won an award for retail excellence at the IHA Global Innovation Awards (GIA), announced at the International Home + Housewares Show in Chicago.

It is 30 years since the Japanese household products chain opened its first store in the Shibuya district of Tokyo. It now has 110 stores nationwide and four overseas franchise stores, with net sales of its directly managed stores expected to reach ¥100 billion (US$875.9 million) this year.

Following a renovation of its flagship stores and the introduction of its “&home” concept, elements will be included in the home and living accessory floors of its major urban stores.

Meanwhile, Loft plans to expand its overseas franchises, strengthen its online store business and, as part of its wholesale business, expand its rental venture.

It was among 28 winning retailers from 27 countries in the IHA awards, which were launched in 2000 to foster innovation and excellence in home and housewares retailing internationally. GIA has so far recognised more than 370 retailers from 45 countries.

GIA is part of a larger education initiative that includes seminars by retail experts, exposure in international housewares publications and educational sessions at events in the sponsors’ home countries.