As one of the most populated cities in the world, Tokyo’s large and discerning consumer market has long been a draw for retailers. Premium brands like Louis Vuitton and Gucci have been present in the city for over three decades. More recently, we’ve seen the likes of Balenciaga, Alice+Olivia and MCM open up in central Tokyo. Precincts popular with international retailers include Ginza, Omotesando, Shibuya and Shinjuku which collectively form one of the largest retail concentrations in Asia.
The improving Japanese economy and lower barriers for entry for new to market brands has also revived retailer interest in the city. On top of this, growing tourism from the rest of Asia – and more recently South East Asia – offers an even wider pool of captive shoppers – especially with a target of 20 million by 2020.With the Olympics just a few years away, we’re likely to see more and more retailers turn their eye to Tokyo to establish and consolidate their presence in Asia.
