DESPITE the growing popularity of the country’s online retail industry, one thing remains constant: brick-and-mortar stores are here to stay. In fact, Neda, the Department of Finance and Nielsen have reported that prospects for the retail industry remain positive, bolstered by economic growth and strong domestic demand. As consumers become aware of local and international trends, their purchase decisions have also evolved from simply transactional to more experiential. The positive industry outlook for Philippine retail prompted foreign retailers to partner up with local companies and establish their presence in the Philippines. One of the latest retailers that aim to elevate the Philippine shopping experience is Isetan Mitsukoshi Holdings Ltd., one of Japan’s largest department store groups.
The Japanese retailer partnered with premier real-estate developer Federal Land Inc. to develop and operate the four-story Mitsukoshi located at the latter’s integrated use project in Grand Central Park Bonifacio Global City (BGC). “We are very positive about the rapidly growing market in the Philippines. The consumption and taste is definitely maturing and we believe that there is a chance for Mitsukoshi to be part of the Philippine retail landscape.” Isetan Mitsukoshi Holdings Ltd. Overseas Real Estate Promotion Division General Manager Daisuke Kobayashi said. “GT Capital Holdings, which is affiliated with many Japanese companies, has a diligent and collaborative corporate culture. This culture made us consider the Philippines and start a business with them.”
Guided by more than 300 years of experience, Isetan Mitsukoshi creates extraordinary retail environments for shoppers and retailers, as well as communities and investors. Its portfolio includes 24 department stores across Japan and 34 retail fronts on international shores, a few of them in major cities in Southeast Asia. Each of these stores gives consumers more than what the traditional shopping mall has to offer, purveying high-end merchandise from Japan and around the world—spanning all categories from clothing to food—in addition to presenting design, service and attention to detail that are second to none.
The history of Mitsukoshi dates back to 1673, when it was founded by Mitsui Takatoshi. On the other hand, Isetan, founded by Tanji Kosuge, first opened its doors in 1886. Both companies were originally kimono drapers. The two companies merged in 2008 to form Isetan Mitsukoshi Holdings Ltd.
The country’s first Mitsukoshi in BGC is set to become a world-class destination. It will be offering dining, leisure, and entertainment choices that will delight shoppers from different age groups, with distinct areas for families, young children and Metro Manila’s most discerning shoppers.
An entire floor will be dedicated to Japanese food, housing a food hall, premium restaurants and a supermarket that will sell high-quality ingredients. Another floor will be devoted to cosmetics and fragrances, as well as beauty-related services. In addition, the mall will also have a dedicated Kids and Nursery Room, where parents can care for their toddlers and babies in between rounds of shopping. “Our policy is to always satisfy the needs and wants of our customers,” Kobayashi said. “Through this, we are able to continuously evolve our stores.”
Mitsukoshi in the Philippines is a collaboration between Federal Land Inc., Nomura Real Estate Co. Ltd and Isetan Mitsukoshi Holdings Ltd. It will anchor The Seasons Residences, a four-tower residential development that will introduce Japanese-style living to BGC. Mitsukoshi in the Philippines is slated to open in 2021.
For more information, e-mail us at digital.mktg@federalland.ph, or visit the showroom at Seventh Avenue corner 34th Street, Grand Central Park, North BGC, Taguig City (across the Lexus Manila Showroom).
