Japanese household goods and apparel chain Muji plans to open in Vietnam next year.
The company will establish its subsidiary Muji Vietnam this August with headquarters in Ho Chi Minh City.
The first store is scheduled to open in the second quarter.
Muji’s parent Ryohin Keikaku says it chose Vietnam as Muji’s next overseas market because of the country’s fast-paced development. Vietnam has the third-largest population in ASEAN and is undergoing rapid economic growth.
“From our business’ point of view, it is one of the major markets in ASEAN, with the estimated real GDP growth of 7.1 per cent last year,” the company said in a statement released in Japan.
“We expect that our experience and knowhow in the global market will help in running stores that serve everyday living and [that will] increase Muji’s fans in the area.”
Muji products are among the most popular items hand-carried back into Vietnam from travellers visiting countries such as Thailand, Singapore, Hong Kong and the Philippines.
The opening of first Muji Vietnam store is expected to attract many Vietnamese youngsters, with the minimalist lifestyle reflected in the retailer’s product range currently a trend in the country.
Muji has more than 450 stores in Japan, and 470 stores in other countries.
Inside Retail Asia