, Japan
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Isetan Mitsukoshi posts over 145% sales growth in Tokyo stores

It also saw a 133% increase in its domestic department stores.

Isetan Mitsukoshi reported its sales increased by 146.5% year-on-year across its five Tokyo metropolitan stores, whilst its sales from its domestic department stores rose 133.6%.

The company attributed this growth to the limited impact of COVID-19 as no restrictions were imposed during the summer.

The high appetite for high-price products also drove sales during the period, Isetan Mitsukoshi noted. 

“Isetan Shinjuku Main Store exceeded 2019's record by double digits, when there was a last-minute surge in demand prior to the consumption tax hike and the reopening of jewelry and other products, and recorded record-high sales after the merger for the fifth consecutive month,” the monthly report read.

Read more: E-commerce market in Japan to grow by nearly 7% in 2022

Moreover, the retailer said its Isetan Shinjuku Main Store and Mitsukoshi Nihombashi Main Store continued to be highly motivated to purchase high-value added products. 

In particular, fall and winter apparel and general merchandise, largely luxury brands and designer brands, began to perform.

 

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