Mitsukoshi to open a Philippines location this year
What: Isetan-Mitsukoshi is opening again international outposts, this time in Philippines
Why it is important: The conglomerate closed its entire Chinese operations during the summer of 2022 and announced its will to focus on the Japanese national market. Such an announcement shows that they are still on the hunt for opportunities.
Isetan Mitsukoshi will open in 2022 a first location in Bonifacio Global City, the business district in Manila. It aims to attract a young and middle class crowd, thanks to an assortment of Japanese cuisine, fashion and cosmetics offer. A whole floor will also be dedicated to wellness.
Isetan Mitsukoshi posted an operating loss of $191.9mn in 2021, and closed all of its Chinese locations earlier in July this year.
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