Best Denki Singapore, the Japanese electronics retailer, plans to open two more stores in the city next year.
Hanasaki Kenji, president and head of Asean region with Best Denki, told the Straits Times newspaper he is unfazed by the downturn in the local consumer electronics market.
“I am not so worried. The downward trend does not hamper our business from growing,” he said.
Best Denki entered Singapore in 1985 inside the Yaohan department store at Plaza Singapura. When that store closed in 1997 the concession was renamed Best Denki and since then the chain has grown to 11 stores.
The company says its annual sales have grown nearly 20 per cent over the last 10 years, reaching S$293 million last year.
Kenji attributes the brand’s success to its strategy of locating stores in shopping centres and sharp negotiating with suppliers.