Nitori Holdings Co., Ltd., Japan’s largest furniture and home-furnishing retailer is opening its first store in the Philippines on April 18. The store is located in Mitsukoshi, a shopping center in BGC in Taguig.
Nitori is setting its sights on a bigger slice of the Asian market, with the Philippines as a key player. The company aims to capitalize on the country’s booming economy and population growth, targeting 50 stores by the end of 2032.
Nitori operates over 800 stores in Japan and nearly 180 stores internationally. It is known for offering high-quality furniture and home furnishings at competitive prices. Its business model encompasses everything from product planning to manufacturing and distribution, allowing the company to control costs and offer value to customers.
Its core business lies in “Nitori” stores, which offer a wide range of furniture and home furnishings. But Nitori is more than just furniture. It also operates “Deco Home” stores for daily necessities, “Shimachu” stores for hardware and home improvement items, and “N Plus” stores for women’s apparel.
The Philippines store opening follows Nitori’s successful entries into Malaysia and Singapore in 2022 and Thailand, Hong Kong, Korea, and Vietnam in the current fiscal year. The company plans to further expand its reach in Asia, targeting Indonesia and India for future growth.
Nitori has a bold plan to increase its overseas store count by 100 within the current fiscal year, followed by an aggressive 200-store-per-year expansion plan in the near future. This ambitious strategy reflects the company’s commitment to serving the growing needs of Asian customers, including Filipinos.
“We are excited to bring Nitori products to more customers in Asia,” says Akio Nitori, Representative Director & Chairperson (CEO). “The region offers significant growth potential, and we are confident our high-quality, affordable products will be well-received.”
Sharing the sentiment, Masanori Takeda, Executive Vice President, adds, “Our goal is to operate 3,000 stores overseas and achieve annual overseas sales of 3 trillion yen by 2032. We are committed to providing exceptional value to our customers across Asia.”
Nitori’s commitment extends far beyond furniture. The Nitori International Scholarship Foundation, founded by Akio Nitori himself, provides scholarships to students in Asian countries. dedication to giving back to the communities that fuel its growth.