The renowned Japanese department store, Isetan, recently ceased operations at its NEX shopping mall location in Singapore. The store, which had been in operation for 15 years, sold a wide range of items, including home goods, fashion, and beauty products. The closure came on April 26, following the expiration of the store’s lease.
Isetan made the announcement of the closure via a Facebook post, expressing heartfelt gratitude to all its loyal customers and stakeholders who had supported the store for the past 15 years. A touching video shared online showed employees bidding their final goodbyes to customers on the store’s last operational day.
A large crowd of shoppers gathered at the store’s entrance, where the store manager gave a farewell speech. In it, he showed appreciation for the customers’ unwavering support and kindness throughout the years. “Today is our last day of business,” he declared, adding warm wishes of health and happiness to the store’s patrons.
Since its initial footprint in Singapore in 1972, Isetan has become a household name in the city-state. The opening of its Havelock outlet marked the arrival of the first Japanese department store in Singapore.
At its height in 2013, Isetan operated six outlets across the country. However, the firm has had to close several stores in recent years. The most recent closures, prior to the NEX location, were the Tampines Mall store in November, after 30 years of operation, the Isetan Katong at the Parkway Parade shopping center in March 2022, and the Isetan Jurong at the Westgate Mall in March 2020.
The reasons behind the closures include a careful evaluation of local conditions and the consideration of future profitability. As Isetan continues to adapt to changing market conditions, its future strategies, operations, and presence in Singapore will undoubtedly be keenly watched.
Why did Isetan close its NEX outlet?
The Japanese department store Isetan closed its NEX outlet due to the expiration of its lease on April 26.
How long has Isetan been operating in Singapore?
Isetan has been present in Singapore since 1972, when its Havelock outlet launched as the first Japanese department store in the city-state.
How many stores did Isetan operate at its peak?
Isetan operated six outlets across Singapore at its peak in 2013.
