Nitori to speed up its expansion in China
The biggest furniture chain brand Nitori has recently said that two branches would be set up in China.
Within this year, Nitori (Taicang) Trading & Logistics Company will be founded with registration capital of 720 million Yen. This branch will be in operation next December. While another sales branch Nitori (China) Co. Ltd. will be founded next June in Shanghai.
By far, Nitori has opened five stores in China and its target is 100 stores by 2020 and 1000 by 2032. Its global opening target is 3000 stores by 2032.
With its price advantage, Nitori has rapidly become a giant furniture retailer in Japan. In the domestic market, it has 370 stores while in international market more than 30. However, it is still far behind Swedish IKEA regarding the scale or popularity. Nitori is seeing China as its base of expansion overseas and ready to establish strategic branches in order to build up a sales network with 3000 stores.