TAKASHIMAYA EYEING MALAYSIA? Renowned Japanese department store operator Takashimaya Co Ltd may be making its way to Malaysian shores. The retailer is believed to be scouting for a suitable location in the country and may have even set its sights on having a presence at the Tun Razak Exchange (TRX) in Kuala Lumpur. According to sources, Takashimaya has been interested in the Malaysian market for several years but it was only recently that it became more aggressive in surveying the market in search of a right location. Top-level management of Takashimaya Singapore Ltd, a unit of the retailer, made several visits to Malaysia last year to gather information on the retail scene. “They were here to look at locations, economy, spending power, possible positioning and potential target market,” a source tells The Edge. Malaysia, which is fast becoming an international shopping haven, is set to record retail sales to the tune of RM98 billion this year. It is learnt that Takashimaya conducted night surveys on the Malaysian market last year. Night surveys are done by collecting occupancy data based on number of lights that are switched on at high-rise residences and office towers within an area. They are said to give an indication of whether the buildings are occupied or are left empty by investors. The Edge understands that should Takashimaya enter the Malaysian market, it will be through its Singapore subsidiary. The Singapore store opened in 1993. Many Malaysians are most familiar with Takashimaya’s store in Ngee Ann City in Orchard Road, but the retailer also operates in France, Taiwan and China.
Posted on: Wed, 12 Feb 2014 08:01:58 +0000
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