By Nikkei Asia
Philippines’ 1st Japanese department store aims to win over young middle class
When Mitsukoshi department store opens in Manila later this year, it will be the first such Japanese retailer to make a debut in the Philippines where companies are hoping to take advantage of a growing middle class.
Isetan Mitsukoshi Holdings will open its flagship store in a large complex that it is jointly building with Nomura Real Estate Development and local property developer Federal Land in the north part of Bonifacio Global City, a new business district in Metro Manila.
Luxury hotel Grand Hyatt Manila and Manila Japanese School are nearby the store. In the future, the area will also be served by subway, under construction now.
Mitsukoshi is banking on its brand as a premium shopping center to draw the Philippine consumer. It also hopes that its depachika — basement food hall found in most Japanese department stores — will be as popular in Manila as they are elsewhere.
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