Japan's Muji Bets Minimalist Retail Will Work for Homes, Hotels [BNN Bloomberg (Canada)]
RYOHIN KEIKAKU UNSP/ADR (RYKKY)
NASDAQ:AMEX Investor Relations:
ryohin-keikaku.jp/eng/ir
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Source: BNN Bloomberg
Known for simple, monotone stationary, apparel and home goods, the Japanese retailer is betting that there's just as much demand for no-frills homes and hotels, with plans to ramp up the number of Muji-style accommodations, both domestically and abroad. “The concept is to build a huge accommodation service,” Hidetomo Nagata, executive officer and head of the social goods and space design divisions at Ryohin Keikaku Co., the brand's parent company, said in an interview. “Muji products are still strong, but we also want to expand to this new lifestyle area.” Earlier this month, Ryohin Keikaku announced a new business called MUJI STAY, which brings under one umbrella the retailer's existing hotels, homes and camps. More projects will also be added in the future, such as a “MUJI room,” a renovated space filled with amenities such as bed linens and pajamas, designed to be placed in existing inns and hotels that may be outdated or not have enough funds for a full remodel. Ryohin Keik
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