Mitsukoshi Isetan To Shut Shanghai Store In June

Major Japanese department store operator Isetan Mitsukoshi Holdings Ltd. has announced that its Shanghai outlet will cease operations in late June due to the expiration of its lease, as reported by Kyodo News.

The Shanghai Meilongzhen Isetan outlet, operational since 1997, garnered popularity for its luxury goods but has faced financial challenges in recent years. I Photo: Mitsukoshi Isetan

This decision follows the planned closure of two other Isetan department stores in April in Tianjin, a port city southeast of Beijing. Several department stores in China have shuttered amid an economic slowdown and the rise of online shopping.

The Shanghai Meilongzhen Isetan outlet, operational since 1997, garnered popularity for its luxury goods but has faced financial challenges in recent years.

The closure of these three outlets will leave only one Isetan store in China, located in Tianjin.

Additionally, an outlet in Chengdu closed in December 2022. Apart from Japan, Mitsukoshi Isetan operates stores in Malaysia, the Philippines, Singapore, Taiwan, and the US.

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