The brand’s debut in India is part of its vision is to operate 3,000 stores and achieve sales of 3 trillion yen by 2032
Marking its entry into the Indian market, Nitori, Japan’s furniture and home furnishing retail chain, has opened its first store in Mumbai at the R City Mall in Ghatkopar. The brand’s debut in India is part of its vision is to operate 3,000 stores and achieve sales of 3 trillion yen by 2032, based on the mission statement “to enrich the homes of people all over the world.”
As per the company’s statement, the store in India will operate under the brand name ‘NITORI’ and the store space is approximately 2,900 square meters. With the goal of opening 289 stores by 2032, the Group aims to establish its network of stores in the earlier period.
By the end of FY2024, the Group plans to add 100 stores within Asia, including both the countries or regions where stores have already opened and new countries or regions. In total, the Group will have 279 stores across the Asian region outside Japan. In order to realise its vision by 2032, the company aims to open more than 200 overseas stores per year in the near future.
“In particular, India has the world’s largest population of over 1.4 billion and a large working-age population, it is also a superpower with a very high economic growth rate, and we expect domestic demand to expand in the future, so we consider it to be a very important market,” as per the company’s statement.
The information provided by the company stated that the Group has opened 832 stores in Japan and 205 stores in the rest of the world, such as Mainland China, Hong Kong, Taiwan, Republic of Korea, Malaysia, Singapore, Thailand, Vietnam, Philippines and the Indonesia, with a total of 1,037 stores. Last year, there were 340 million customers who visited the Group’s stores.
