THE FIRST Mitsukoshi in the Philippines had its soft opening last Friday, bringing the first department store in all of Japan to the country.
Mitsukoshi Holdings Ltd. has its origins over 300 years ago in 1683 as a kimono fabrics store in Tokyo. According to a presentation by Akio Inuishi, Division Manager of the Overseas Real Estate Division of Isetan Mitsukoshi Holdings Ltd.’s Overseas Business Department, the store also introduced price tags to Japan.During a press tour in the Mitsukoshi BGC mall last Thursday, a Mitsukoshi lion statue, which is also found at the main store in Japan, was unveiled by its executives.
The mall itself is a result of a tripartite development between Federal Land, Nomura Real Estate Development Co., Ltd., and Isetan Mitsukoshi. The mall is built on the podium level of The Seasons Residences, a mixed-use development from the same partnership. Such visits led to tenants such as the country’s first Kinokuniya , opening in the mall with a partnership with local bookstore chain Fully Booked. According to a release, almost half of the retail space in the bookstore will be devoted to JapaneseThe mall has 16,950 sqm. of retail space, spread across four stories with 120 tenants in total, with a 55% opening ratio. Mr. Mitsunori said that the mall plans to open completely by the first quarter of 2023.
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