Japan’s kaintenzushi restaurant chains eye global expansion
This comes as the chain sees a slow domestic market demand.
Japanese conveyor-belt sushi chains, or kaintenzushi, are looking at expanding overseas, which GlobalData linked to the slow domestic market demand.
“Leading Japanese kaintenzushi or conveyor-belt sushi chains, Sushiro and Kura Sushi, plan to boost their international presence to offset the slowdown in domestic business,” Suneera Joseph, Consumer Analyst at GlobalData, said.
According to Joseph, the sushi chains plan to open new outlets in the US, China, and other Asian markets.
Sushiro plans particularly plans to open about 60 new outlets overseas, compared to 20 planned for its domestic market, by September 2023.
Kura Sushi, meanwhile, wants to open 400 overseas outlets by 2030, with its first eatery planned in China in 2023.
“Facing fierce competition and razor-thin profit margins in the home market, sushi chains are exploring international expansion as part of their growth strategy,” Joseph said.
“The expansion plans are also being driven by the revival of consumer footfall at foodservice outlets after the lifting of COVID-19 restrictions.”