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Business

Dior, luxury peers to anchor new Ginza mall

TOKYO -- High-end brands including Christian Dior and Fendi will headline the roughly 250 tenants of a shopping complex opening next April in Tokyo's famed Ginza district.

The mall is being built on space formerly occupied by department store Matsuzakaya. It is expected to lure both foreign and domestic tourists to the area.

The commercial facility will be operated by an LVMH Moet Hennessy Louis Vuitton group member as well as Japan's J. Front Retailing, Mori Building and Sumitomo Corp. LVMH's Christian Dior will occupy the largest space. Such other LVMH brands as Fendi and Celine will also have a presence.

Swiss luxury watchmaker Franck Muller, the U.K.'s Jimmy Choo, France's Van Cleef & Arpels and Saint Laurent, and Italy's Valentino and Versace will also open up shop.

The 46,000 sq. meters of retail space will run from the second basement level to the sixth floor, along with a section of the 13th floor. The first floor will have a tour bus platform to prevent traffic congestion. Construction is slated for completion in January.

Recent demand from foreign tourists has slowed, and purchases of high-end goods have fallen. But the number of tourists is expected to grow as the 2020 Tokyo Olympics inch closer.

The new complex will add to other such retail attractions as Tokyu Plaza Ginza, which opened in March, and Ginza Place, which opened Saturday.

(Nikkei)

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