Nitori ramps up Asia expansion, enters Hong Kong this month 

(Source: Supplied)

Japanese furniture retailer Nitori will open its first location in Hong Kong this month, just a month after its Thailand debut. 

The store, which is part of the brand’s strategy to accelerate its growth in Asia, will be housed in Kowloon Bay’s Mega Box shopping mall.

The Japanese retailer also intends to open 20 stores in Hong Kong by 2032, as well as its first locations in Vietnam, Indonesia, the Philippines, and South Korea.

“From 2023 onwards, we will accelerate the opening of stores in the Asian region. There are still only a few home-furnishing stores in the Asian region that offer both furniture and home-furnishing products,” said Masanori Takeda, director and GM of the company’s global merchandising division. 

“We will continue to take on the challenge of providing the same standards of quality refined in Japan to the Asian region so that we can resolve the ‘discontent, dissatisfaction, and inconvenience’ and so that more customers can enjoy coordinating various lifestyles and homes around the world.”

Based on the goal statement “to enrich the homes of people all over the world,” Nitori’s vision is to open 3000 stores and reach sales of 3 trillion yen (US$20 million) by 2032. The brand has 793 stores in Japan and 142 locations in Mainland China, Taiwan, Malaysia, and Singapore, for 935 locations worldwide.

Nitori reportedly plans to invest US$6.8 million in expanding its furniture business in Thailand over the next year. Later this year, the business plans three more stores at Seacon Bangkae, Central Westgate, and The Mall Bangkapi. It intends to open ten new Nitori stores in Thailand next year, with a target of 25 locations in five years. 

By the end of March 2024, it expects to open 78 additional stores in both existing and new markets, increasing the total number of locations in the Asian region to 206. In addition, from 2025 onwards, Nitori intends to open an average of 300 stores per year internationally. 

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