Takashimaya

Takashimaya

Takashimaya

Japanese department store

Takashimaya Company, Limited (株式会社髙島屋, Kabushiki-gaisha Takashimaya) is a Japanese multinational corporation operating a department store chain carrying a wide array of products, ranging from wedding dresses and other apparel to electronics and flatware. It has more than 12 branches strategically located in 2 regions, and 4 international branches around Asia.

Quick Facts Native name, Romanized name ...
Kyoto Takashimaya
Shinjuku Takashimaya Times Square in Shinjuku, Tokyo
Edward VIII, Louis Mountbatten, 1st Earl Mountbatten of Burma and his staff wearing happi coats from Takashimaya during a visit to Kyoto, 1922

Takashimaya has been a member of the International Association of Department Stores from 1962 to 1997.

Takashimaya was listed at #1197 on the Forbes Global 2000 list for 2006.[2]

Takashimaya is a member of the Sanwa Group keiretsu.

History

The first Takashimaya store was opened in Kyoto in 1831 as a sole proprietorship owned by Shinshichi Iida, a merchant from present-day Fukui Prefecture.[3] The original store in Kyoto was only 3.6 square meters in area and specialized in selling gofuku (formal kimono). A second Kyoto store opened in 1893, followed by a Tokyo store in 1897 and an Osaka store in 1898.[4] Takashimaya was incorporated as a gomei kaisha (unlimited liability company) in 1909 and converted to a kabushiki kaisha (stock company) in 1919.[5]

Takashimaya began an export business in 1876, following the Meiji Restoration, and established an in-house trading unit in 1887.[3] By 1903 Takashimaya had offices in Paris and London and an export office in Yokohama.[4] The trading unit was spun off as a new stock company, Takashimaya-Iida (高島屋飯田株式会社), in 1913.[3] Takashimaya-Iida later merged with the trading company Marubeni.[6]

The chain saw a major expansion in the early 1930s. In 1931 it opened a "10, 20 and 50 sen store" in Osaka, a predecessor of today's 100 yen store. Its flagship store in Namba, Osaka opened in 1932, and a second flagship store in Nihonbashi, Tokyo opened in 1933. The Tokyo and Osaka stores were damaged by the firebombings of Tokyo and Osaka in 1945 but were not destroyed, and served as centers for logistics during the occupation of Japan.[5] Due to postwar regulations on the size of new stores, many Takashimaya locations opened from the 1950s onward, including its Yokohama and Yonago stores, were set up as separate companies.[4]

In 1958, Takashimaya opened a store in New York City which eventually occupied 37,000 square feet of floor space at 693 Fifth Avenue. The New York store closed in 2010 as Takashimaya chose to refocus on East and Southeast Asian markets amid struggling sales.[7]

In 1969, Takashimaya opened Japan's first American-style suburban shopping center near Futako-Tamagawa Station, to the southwest of Tokyo.[4]

The Japanese department store industry went through a wave of consolidation during a revenue slump in the 2000s, with Isetan Mitsukoshi Holdings (parent of Mitsukoshi and Isetan) becoming the largest player in the industry, followed by J. Front Retailing (parent of Daimaru Matsuzakaya Department Stores). In 2008, Takashimaya announced plans to merge with H2O Retailing, the parent of the Osaka-based Hanshin Department Store and Hankyu Department Store chains, which would have formed the largest department store operator in Japan. Takashimaya and H2O entered into a cross-shareholding relationship prior to the merger, with each acquiring 10% of the other's stock, but announced the cancellation of their merger in 2010.[8]

In 2019, the company announced it would closing its mainland China store in Shanghai on August 25,[9] but retracted its decision after it gained support from local governments.[10]

Stores

Directly owned

Kansai
Kanto

Subsidiaries

Siam Takashimaya in Thailand at ICONSIAM

Domestic joint venture

Closed domestic stores

International joint-ventures

Former international stores/joint-ventures

  • Dayeh Takashimaya - Tianmu, Taipei, Taiwan, joint venture between Dayeh Group (Chinese: 大葉集團) and Takashimaya. Takashimaya reported had sold its 50% stake, thus Dayeh Takashimaya was not mentioned in their corporate website, stating that Takashimaya are no longer affiliated with the joint-venture.[11] Until today, the store is still operating independently using the 'Takashimaya' brand.

Closed international stores

  • New York City Takashimaya - New York City, United States - Opened in 1958, the store eventually occupied 37,000 square feet of space at 693 Fifth Avenue. The store was closed in 2010 and the space was last occupied by a Burberry trench coat pop-up store which closed in May 2023.
Siam Takashimaya in Thailand at ICONSIAM

See also

References

  1. [1]
    "Company Profile Leadership & Governance President Message". Retrieved 2024-01-09.
  2. [2]
    The World's Biggest Public Companies - Forbes.com
  3. [3]
    "Takashimaya Archives 1831-1908". Takashimaya. Archived from the original on 7 April 2016. Retrieved 9 June 2015.
  4. [4]
    "Takashimaya Company, Limited History". International Directory of Company Histories, Vol. 47. St. James Press, 2002. Retrieved 9 June 2015.
  5. [5]
    "Takashimaya Archives 1909-1945". Takashimaya. Archived from the original on 17 January 2022. Retrieved 9 June 2015.
  6. [6]
    "Marubeni Corporation History". International Directory of Company Histories, Vol. 24. St. James Press, 1999. Retrieved 9 June 2015.
  7. [7]
    Pasquarelli, Adrianne (25 March 2010). "Upscale department store Takashimaya closing". Crain's. Retrieved 9 June 2015.
  8. [8]
    Uranaka, Taiga (25 March 2010). "Japan dept stores Takashimaya and H2O cancel merger". Reuters. Retrieved 9 June 2015.
  9. [9]
    "Takashimaya to close Shanghai store, pulling out of China". Nikkei Asian Review. 2019-06-25. Retrieved 2019-06-25.
  10. [10]
    "Takashimaya store to remain open". SHINE. Retrieved 2019-10-28.
  11. [11]
    "Takashimaya to sell stake in Taipei department store - Taipei Times". 19 May 2016.
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