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.
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.