ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintTitle ChevronIcon Twitter
Retail

Bangkok's Tokyu store to close in latest exit by Japanese retailer

Pandemic deals knockout blow to location that survived Asian financial crisis

The Tokyu store in Bangkok had been popular among locals and tourists. (Photo by Hiroshi Murayama) 

BANGKOK -- Japan's Tokyu Department Store plans to close its Bangkok location after a string of difficulties, Nikkei learned Tuesday, with a lack of tourist traffic the last straw.

The store at the MBK Center shopping mall will shut its doors forever in late January. Following the 2019 closing of another Thai location, this essentially means that the retailer is leaving the country.

Tokyu Department Store, part of the Tokyo-listed Tokyu group, becomes the latest Japanese retailer to pull out of Thailand. Isetan Mitsukoshi Holdings shut down its Bangkok department store this August. Convenience store chain FamilyMart mounted a retreat in all but name this year.

Tokyu's Bangkok store opened in 1985, later overcoming the Asian financial crisis and repeated political turmoil.

But a strong baht last year weighed on tourism from nearby countries. Meanwhile, competition has mounted in Bangkok from a series of shopping center developments.

The final nail in the coffin came from COVID-19 and Thailand's resulting entry restrictions.

Tokyu's departure will leave Takashimaya, which arrived in 2018, as the only Japanese department store operator left in Thailand.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more