TOKYO -- Japanese furniture retailer Nitori Holdings, by the end of March, will more than double the number of its stores in Southeast Asia and India as it scrambles to dodge the prolonged consumption slump in China.
"The consumption slump [in China] has only just begun and will continue for a while," Masanori Takeda, Nitori's vice president in charge of overseas sales, told Nikkei Asia, revealing concerns about the slowing Chinese economy. "Customers are [generally] tending to hold off on purchasing furniture and durable consumer goods."
