Nitori is targeting 3,000 global stores by 2032 and achieve a sales target of approximately Rs 1.65 lakh crore by the same year
Bengaluru: Japan’s largest furniture and home-furnishing retail chain, Nitori is set to debut in India with its first store at Mumbai’s R City Mall in December 2024, the company said in a press release.
Nitori is targeting 3,000 global stores by 2032 and achieve a sales target of approximately Rs 1.65 lakh crore by the same year.
In Spetember this year, IndiaRetailing broke the news of Nitori coming to the indian market.
“Based on our mission statement ‘to enrich homes of people all over the world,’ we are aiming to be a company where customers all over the world would feel ‘glad that Nitori is here’,” said Akio Nitori, representative director and chairperson (CEO) of Nitori Holdings Co. Ltd.
“We are going to accelerate our business expansion within the Asian region, which could achieve economic growth over the long term and serve as the core of the supply chain that supports the Group. With the support of everyone, we are able to bring Nitori products to customers in 11 countries/regions through our store in India, and we wish to support more customers,” he added.
Nitori’s parent company Nitori Group also operates other business verticals, including Shimachu home improvement stores, Deco Home stores for home-furnishing essentials, and N Plus apparel stores for women. Nitori is currently focused on opening around 100 stores across Asia by the end of FY25 to bring its total to 279 stores outside Japan.
“We are accelerating our store openings within the Asian region and managed to open the first store in the Philippines in April and in Indonesia in July. Now, we are opening a store in India, where economic growth is remarkable and demand for an enriched lifestyle with furniture and interior goods is on the rise,” said Masanori Takeda, executive VP in charge of overseas businesses at Nitori Holdings.
R City Mall, spanning 1.2 million sq. ft., hosts over 350 brands and attracts a monthly footfall of approximately 8-10 lakh visitors.
“We are thrilled to welcome Nitori, the Japanese home furniture giant, to R City Mall as they embark on their journey in the Indian market. Nitori’s launch marks an exciting addition that will undoubtedly enhance our shoppers’ experience, and we look forward to the delight it will bring to our patrons,” said Sandeep Runwal, managing director, Runwal Realty, the parent company of R City Mall.
Nitori Group operates 832 stores in Japan and 203 stores around the world with a total of 1,035 stores. Last year, there were 340 million customers who visited the brand’s stores. The number of shoppers exceeded 100 million making it safe to say that Nitori is the number one home-furnishing store in Asia.
