MUJI opens the first store in Hanoi

4/7/2021| 15:37

After 2 years of searching for space, today (July 3), Japanese giant retail opened the first store in Hanoi, with an area of ​​over 2,000 m2.

This is MUJI's second store in Vietnam, after the largest store in Southeast Asia in Ho Chi Minh City opened late last year. With an area of ​​more than 2,000 square meters, MUJI's flagship store in Hanoi has 5,000 products from fashion, cosmetics, home appliances, furniture and food.

According to Tetsuya Nagaiwa, General Director of MUJI Vietnam, this business takes a lot longer to find premises in Hanoi than in Ho Chi Minh City. He explained that the location in Ho Chi Minh City is easy to find because the city centre is District 1, while in Hanoi, there are many similar places in terms of customer attraction. After 2 years of the survey, MUJI decided to set up shop in Vincom Center Metropolis, Lieu Giai, because this is an area with a huge number of Japanese people living and has a large enough space. 

"MUJI's current strategy is to dominate in two big cities first, to improve and enhance brand recognition. Depending on economic development, population and other factors, MUJI will consider opening more stores in other cities, after Hanoi and Ho Chi Minh City", MUJI Vietnam General Directorsaid.

He also assessed Vietnam as one of the most potential retail markets in the world today. Vietnam has attracted many investors as the economy continues to grow and the increase of the young population with average income.

In addition, Mr Nagaiwa also said that the price of some MUJI products will be cheaper in Vietnam compare to other markets because they are manufactured by domestic partners. However, he did not disclose specifically MUJI's factories in Vietnam.

 

MUJI opens the first store in HanoiTetsuya Nagaiwa, General Director of MUJI Vietnam

Established in 1980, MUJI is a Japanese retail company with a diversified portfolio of household and lifestyle products. MUJI says it makes a difference by simplifying product design, emphasizing recycling, minimizing waste during production, packaging and a "no-brand" policy. 

MUJI is present in 33 countries and territories with more than 1,000 stores. MUJI steadfastly pursues 3 core principles, including selecting the most suitable raw materials, optimizing production processes and simplifying packaging. 

In 2019, Ryohin Keikaku – the parent company of MUJI, announced its plan to enter the Vietnamese market. This unit has established MUJI Vietnam Co. Ltd to develop its business here and owns 100% of the capital.

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