Ginza Six, one of the largest commercial complexes in Tokyo's Ginza district, has announced that the facility will change many of its tenant shops for the first time since it opened in April 2017.
The shopping complex is expected to introduce new stores selling luxury household goods and food as many shopping facilities face difficulties amid the coronavirus pandemic.
Ginza Six is operated by a company whose investors include Daimaru Matsuzakaya Department Stores Co. and Sumitomo Corp.
The facility used to have about 240 tenant stores, including high-end brands from overseas. However, more than 20 shops and restaurants, or about 10%, have closed since December last year, including beauty and apparel stores.
Apparently, about another 20 shops are expected to close as well. A person in charge at Ginza Six said those shops are not closing because of a pandemic-related reason but are planning to not renew their leases.
Over the next few months until April, the tenant stores will be replaced by about 40 new shops, such as a Gucci watch and jewelry store, other overseas brands opening their first shops in Japan and luxury food shops.
About 30% to 40% of sales at department stores and retail facilities in Ginza used to come from foreign tourists, according to sources close to the facility. While Ginza Six cannot anticipate profits from sales to foreign tourists anytime soon, the facility plans to renew its tenant stores to appeal to the wealthy population in Japan.
Read more from The Japan News at https://japannews.yomiuri.co.jp/
