Isetan, a Japanese department store chain offering a variety of products ranging from home goods to fashion and beauty items, has recently shuttered its outlet located in NEX shopping mall, Singapore. This closure comes to fruition after a successful 15-year long business operation.
The termination of this business venture was formally announced on April 26 following the expiration of its lease. This announcement, made via a Facebook post, expressed the company’s profound gratitude to its customers and stakeholders for their steadfast support throughout these fruitful years.
Footage that circulated online showed the store’s staff bidding their final farewells to their loyal customers on the day of the store’s closure. A notable gathering of people was observed at the store’s entrance during which the store manager expressed heartfelt gratitude towards the customers for their continuous support and goodwill over the years.
As the manager announced the end of their business operations, he extended well wishes of good health and happiness to all.
Isetan has held a strong presence in the Singaporean market since its inception in 1972. The opening of its Havelock outlet marked the first instance of a Japanese retail store in the city-state. At the height of its success in 2013, the company operated a total of six outlets across Singapore.
However, the recent years have seen a gradual decrease in the number of operational stores. The retail giant closed its Tampines Mall outlet in November after 30 years of operation. This decision was taken after careful assessment of local conditions and future profitability prospects.
Earlier store closures include the Isetan Katong outlet at Parkway Parade shopping center in March 2022 and the Isetan Jurong outlet at Westgate Mall in March 2020.
When did the Isetan outlet at NEX shopping mall in Singapore close?
It closed on April 26, following the expiration of its lease.
When did Isetan first establish its presence in Singapore?
Isetan first established its presence in Singapore in 1972 with the opening of its Havelock outlet.
How many Isetan outlets were operational in Singapore at the company’s peak?
At its peak in 2013, Isetan operated a total of six outlets in Singapore.
