TOKYO — Japan may be inching its way out of a recession but specialty retailers and fashion brands are still forging ahead with their retail expansion.
Over a two-week period, a flurry of new stores are opening here including Opening Ceremony, Ron Herman, Tom Ford, Rick Owens, Tila March, Brooks Brothers Black Fleece, Kitson and a new retail concept from Issey Miyake.
A large retail and entertainment complex called Marunouchi Brick Square also will open in the city center to house tenants like Land of Tomorrow, Cath Kidson and Brooks Brothers.
Although most observers agree Japan’s future growth prospects are limited as its aging population shrinks and it emerges from a long period of macroeconomic stagnation, it’s clear the country remains a critical market for luxury goods, worth something close to $20 billion. Plus this is an advantageous time to expand here as real estate prices and rental rates linger in the doldrums.
“In some of the cases I suspect there is enough ‘risk-sharing’ with local partners,” said Brian Salsberg, the head of McKinsey Japan’s consumer and retail team.
That said, it remains to be seen just how many of the new stores will outlive their initial burst of novelty and be successful in the longer run, as Takahiro Yamamura, a business professor at Bunka Fashion Graduate University, questions.
“Japanese consumers love new products, new things, anything new. That makes these types of specialty stores very popular at the beginning but nobody knows if it will last,” Yamamura said. “Japanese consumers are also quite fickle.”
All of these brands are entering an increasingly cutthroat atmosphere in what was already one of the most competitive retail landscapes in the world. This most recent burst of activity coincides with the boom of fast fashion here. Brands like Uniqlo, Hennes & Mauritz, Forever 21 and Zara have convinced Japanese shoppers they no longer have to shell out luxury-level prices to look fashionable.
Here, a look at some of the latest additions to Tokyo’s retail scene:
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)