Japanese retail chain Daiso expands presence in Singapore

SINGAPORE: Japanese retail chain Daiso is expanding its presence in Singapore with three more stores over the next few months, as it sees a stable future here with growth opportunities.

One of the new outlets is a large flagship store at Jurong Point shopping mall that officially opens on May 25. The store contains three brands under one roof, making it the first such concept store outside Japan.

The Jurong Point store also has the company's two other brands Standard Products, which describe itself as having an environmental focus and is making its debut in Singapore, and a newly rebranded women s line Threeppy, apart from affordable household and daily necessities under the well-known Daiso brand.

Another two Daiso stores are in the pipeline. One will open at the NEX shopping mall in Serangoon next month, while another will be ready to open in September in the Ang Mo Kio area.

The president of parent company, Daiso Industries Seiji Yano, said these additions are part of a global expansion strategy and that the Japanese retailer sees a very stable future for Singapore with a lot of growth.

When asked by CNA to elaborate on the growth areas it sees, Mr Jun Tomioka, President of Daiso Singapore, said: "At present we only have 40 stores, so we really feel there is a huge potential for us to expand." The firm believes that the new brands it is introducing in Singapore will cater to different market needs, giving sales a boost.

A recent change in pricing also means a difference in revenue, according to a translator at a press conference.