Japanese furniture retail giant Nitori Holdings is broadening its horizons with a strategic expansion into the Philippines, marking a significant step in its ambitious plan to strengthen its footprint across Asia. The company is set to open a 1,100-square-meter store in the bustling Mitsukoshi BGC shopping center in Manila next month, signaling the start of a major push that aims to establish 50 stores in the Philippines by 2032. This move is part of Nitori’s broader strategy to capitalize on its existing supply chain, which already imports furniture and bedding from Southeast Asia for the Japanese market.
Nitori’s expansion isn’t just limited to the Philippines; the company has recently extended its reach to Thailand, Hong Kong, South Korea, and Vietnam within this fiscal year, and it has its sights set on entering Indonesia and India soon. The firm’s global footprint is impressive, with 979 stores to date, 172 of which are located outside Japan. The company’s ambitious vision extends to operating 2,000 stores internationally by 2032, aiming for a milestone of 1 trillion yen in total sales.
Under the leadership of Chairman Akio Nitori, the company is rapidly evolving its operational capabilities, gearing up to open more than 200 international stores annually. This aggressive expansion underscores Nitori’s commitment to becoming a dominant player in the global furniture retail market, adapting to diverse consumer markets while leveraging its established supply chain efficiencies.
