Takashimaya to Open Upscale Shopping Center in Hanoi by 2026
According to Vietnam Plus, Luxury Japanese department store chain Takashimaya is setting its sights on Vietnam's capital city, Hanoi! The company plans to open a new shopping center in 2026, marking its first international expansion in eight years.
Here's what we know about the project:
- Mixed-use complex: The development, led by Takashimaya subsidiary Toshin Development, will be a multi-purpose space. Alongside the department store itself, expect residential units, office buildings, and additional commercial tenants.
- Focus on Vietnamese growth: Takashimaya sees Vietnam, with its burgeoning middle and upper class, as a key market for future expansion.
- First in Hanoi: This will be Takashimaya's first venture into Hanoi, following their existing store in Ho Chi Minh City established in 2016.
- Competition awaits: While Vietnam offers exciting opportunities, Takashimaya will face competition from local players, South Korea's Lotte Group, and Japan's own Aeon Mall.
- Japanese focus, global appeal: The 10,000 sq. meter department store is expected to showcase a curated selection of products, potentially featuring Japanese brands specializing in food, cosmetics, and children's clothing.
Takashimaya's president, Yoshio Murata, is confident in their strategy, stating their commitment to creating a shopping experience that stands out. He believes the rising Vietnamese standard of living will fuel demand for high-quality Japanese products.
This expansion marks a significant step for Takashimaya in Southeast Asia, solidifying their presence in the region and offering Vietnamese shoppers a taste of Japanese luxury retail.
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Date of record
19 April 2024
