What: Tokyu Department Store Co.’s flagship store in Tokyo has closed as a result of a local redevelopment project.

Why it is important: The department store located in Shibuya Ward was a symbol of the famous commercial district in Tokyo.

After 55 years of business, Tokyu Department Store Co. has closed its flagship store located in Tokyo’s Shibuya Ward. The iconic store was a symbol of the famous commercial district in Tokyo and was responsible for creating a wine boom after the introduction of wine cellars in 1990.

As part of a local development project, a 36-story skyscraper housing a commercial facility, hotel, and apartments will replace the store with plans to open in 2027.

Tokyu’s flagship department store in Shibuya closes after 55 years