Magazines Archives - 2008 November

Takashimaya, H2O Retailing to merge by 2011
Story 13 - News

TWO of Japan’s leading department stores, Takashimaya Co Ltd and Osakabased H2O Retailing Corporation, plan to merge their operations to step up efficiency in light of the economic slowdown and declining population in the country.

“Consumer spending in Japan will undergo huge structural change due to the ageing population,” Koji Suzuki, president of Takashimaya, told the local media in a news conference. “We have long felt the need to consider alliances or mergers, looking at the rough business environment ahead.”

The move will begin with each party buying a 10% stake in the other by next February, leading to a full merger by 2011. They will then work together on various operational areas such as cost reduction and product procurement.

While both companies added that they would not merge or rebrand their store chains, the strategy will put them on par with the country’s current leader, Isetan Mitsukoshi, which has undergone a merger.


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2008 Nov Stories:

Holiday sales: How much of this will be washed out by the economic storm?

Developers leading green-mall movement in Singapore

The NRA Show remains important as dynamic industry event

Top retailers feted at awards ceremony and gala dinner

Retail developers at ICSC Asia Expo pin hopes on Asian markets

Harvey Nichols boosts MAP’s status as retail powerhouse in Indonesia

Auric Pacific raises stake in Food Junction to boost industry presence

Orchard Central goes Med

US JCPenney launches Australian online portal

ViVOtech extends expertise technology to NFC public trials in Singapore

Elizabeth Arden brings Juicy Couture to Asia

Saigon Co.op on track to open 100 stores by 2015

Takashimaya, H2O Retailing to merge by 2011

bulthaup’s new clean line of furniture shies away from the trendy

Lotte growing aggressively through global acquisitions

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