Early this fall, JC PENNEY CO., INC. and DEODEO CORP. (formerly Daiichi Corp.) plan to open a second JC Penny Home Collections store, this one in Tokyo. An in-store shop was opened in the major appliance retailer's main Hiroshima location in August 1996. The partners originally planned to have more home furnishings stores in operation by now, but they discovered that their initial product selection was not well-matched to buyers' interests. Consequently, they have spent the last two years refining their marketing strategy. If all goes according to plan, five more JC Penney Home Collections stores could be open by next March.
Seeing what it believes is a promising casual apparel market in Japan, GAP INC. plans to open 14 Gap or combination Gap/GapKids stores this year, double 1997's number, and 20 new outlets a year beginning in 1999. Three of the 14 scheduled for 1998 already are in business (see Japan-U.S. Business Report No. 343, April 1998, p. 15). Another outlet in Tokyo is expected to open in October, this one with a floor space of 17,600 square feet, and an equally big store will open its doors in Osaka in November. By mid-March 1999, Nagoya also will have another Gap store.
An exchange rate of ¥132=$1.00 was used in this report.