Tokyu announce closure in Thailand; latest Japanese store to end operations in Thailand after 35 years

 

Closing after 35 years

Picture: Daily News

 

Japanese media Nikkei reported that the Tokyu department store is closing in Thailand and ending all investments in the country by the end of January 2021.

 

The store had a 35 year history in Thailand at Ratchadapisek in Bangkok then at a failed enterprise in Pareadise Park, Sri Nakharin that went bust in 2019. They are currently operating out of MBK Center in Pathumwan in one of the capital's hitherto busiest areas.

 

The company has blamed high competition in department stores and the retail sector in general and a severe downturn in customers due to the pandemic. 

 

Isetan has already shut operations in Thailand. 

 

Daily News reported that the only Japanese department stores left are Donki in Thong Lo and Siam Takashimaya in Icon Siam. 

 

Source: Daily News

 

 

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sadly,  another casualty due to global economic downturn ....  we have seen this happen worldwide even before COVID came along. Less and less people want to venture out into the shops anymore .... they prefer to buy online and have everything from furniture, household goods to groceries delivered to their door.  Times have changed,  people don't want to see people anymore, or talk to people anymore as there are too many nutcases running around these days.   imo

 

In Australia, Noni B, Millers, Rockmans and Katies has said it will close a further 250 stores within the next six months.

Announcing the closure at its annual general meeting today, retail conglomerate Mosaic Brands said "unrealistic rental requests" and a move to online shopping had pushed customers away from bricks-and-mortar stores.

Mosaic Brands Limited owns and operates almost 1,400 stores nationally, and includes other brands such as Autograph, Rivers, W.Lane, Crossroads and Beme. 

https://www.9news.com.au/national/noni-b-millers-rockmans-katies-owner-flags-250-more-store-closures-due-to-rent/d9c26378-0833-4139-aac3-2ad88c9a3674

 

24 minutes ago, steven100 said:

Times have changed,  people don't want to see people anymore, or talk to people anymore as there are too many nutcases running around these days.   imo

Hi.

5 minutes ago, NCC1701A said:

Hi.

how's that storm going ... 

Hai  ???? 

2 minutes ago, steven100 said:

how's that storm going ... 

i'm tracking in my underground bunker.

How long before we will see a Chinese department store open up?

i am thinking about going to this store today. 

maybe buy some Geisha girl outfits at 50% off. 

2 minutes ago, ExpatOilWorker said:

How long before we will see a Chinese department store open up?

unfortunately this is the truth. 

 

Japanese are so much cooler and their products are high quality .

29 minutes ago, steven100 said:

there are too many nutcases running around these days.   imo

Suspect it has much more to do with conveyance than nuts and started long before COVID as you said - more to do with the ease of finding low price without having to deal with aggressive sellers.  Add having to carry your own bags so even spur of the moment shopping is limited.   And with COVID add the walk of shame, the masks to make breathing even harder than the AQI - and total looks of panic if you should cough.  Shopping sucks. 

Just now, lopburi3 said:

Suspect it has much more to do with conveyance than nuts and started long before COVID as you said - more to do with the ease of finding low price without having to deal with aggressive sellers.  Add having to carry your own bags so even spur of the moment shopping is limited.   And with COVID add the walk of shame, the masks to make breathing even harder than the AQI - and total looks of panic if you should cough.  Shopping sucks. 

agree ....  a cumulation of things over the past years.  Who want's to be hounded by sales staff at every turn when one can sit in their lounge chair at home and decide.  

This store has given up the ghosts long time now together with the mass exodus of many of the Japanese ex patriots, our large condo was full of them, only a couple left now...

Part of the reason why they are closing is due to Covid. Isetan announced they will not be renewing their lease at Central World too. But, Japanese investments in Thailand are way down, and many companies are pulling out. They see this toxic army, their incompetence, rhe backwards direction the nation is moving, the extreme lack of competence, and it gives them the willies. As it should. Covid can and will be blamed. But, it is far deeper and more sinister than that. 

 

It appears that Japan is averse to what they see as the increasing influence of China here. That is a big issue for them. Also, the US-China Trade war, periodic flooding, with no solutions in sight, and the baht appreciation are issues. Many Japanese companies are exiting China. This is an opportunity for Thailand. But, the extreme incompetence here seems to be inhibiting the ability to move the nation forward. 

 

Instead, some are moving to Vietnam, India and other countries. 

Nothing particularly unique here, department stores are increasingly an anachronism in modern retail worldwide. A cursory glance, even in a first-tier Chinese city, would confirm that the model has had its day. I would not expect any of the major Chinese operators to try it in Thailand, they are already bleeding cash in their domestic enterprises. The trend now is far more towards shopping malls with individual and chain shops.

Just now, Pottinger said:

Nothing particularly unique here, department stores are increasingly an anachronism in modern retail worldwide. A cursory glance, even in a first-tier Chinese city, would confirm that the model has had its day. I would not expect any of the major Chinese operators to try it in Thailand, they are already bleeding cash in their domestic enterprises. The trend now is far more towards shopping malls with individual and chain shops, with the risk spread.

 

46 minutes ago, steven100 said:

agree ....  a cumulation of things over the past years.  Who want's to be hounded by sales staff at every turn when one can sit in their lounge chair at home and decide.  

 

Yes, this. HomePro has been really annoying. I've taken to speeding up my walk upon entrance and dodging staff groups to get to what I want. But as soon as you're spotted, along comes a chatty staffer. They hover a couple of metres away and issue useless "helpful comments" with the worst sense of timing.

 

And do I need a sawut de krap as I pass through the refrigerators at Big C?

 

I think it's gotten worse this year. I've only just joined the online purchase trend four months ago. It's a pleasure not to be harassed.

The problem with tokyu is that it has a lot of foot traffic from BTS but people are going to the other shops to buy stuff at cheaper prices.  

 

This is going to be a very big problem for MBK as it is a large area to fill in and they do not have the kiosks that can fill it.

Staff were pictured not appearing to be best pleased on hearing this news.

4 hours ago, NCC1701A said:

i am thinking about going to this store today. 

maybe buy some Geisha girl outfits at 50% off. 

Hope they have them in your size mate.

5 hours ago, NCC1701A said:

i'm tracking in my underground bunker.

Hah.  My bit of seaweed in the window says this is rubbish. It's genuine seaweed from Patpong as well.

If the shops ever decided to employ the number of staff they actually needed rather than they cheaply wanted, at least 33% of the staff would be out the door.

7 hours ago, steven100 said:

sadly,  another casualty due to global economic downturn ....  we have seen this happen worldwide even before COVID came along. Less and less people want to venture out into the shops anymore .... they prefer to buy online and have everything from furniture, household goods to groceries delivered to their door.  Times have changed,  people don't want to see people anymore, or talk to people anymore as there are too many nutcases running around these days.   imo

There is a few nutcases posting on TVF...not that I am implying anything by that just pointing out nutcases are everywhere. ????

9 minutes ago, Grumpy John said:

There is a few nutcases posting on TVF...not that I am implying anything by that just pointing out nutcases are everywhere. ????

They are everywhere Grumpy John,  but years ago. say in the 60's & 70's  you didn't have all the drug addicts and nutters running around like it is now ... or did I miss something.  ?

1 hour ago, RichardColeman said:

If the shops ever decided to employ the number of staff they actually needed rather than they cheaply wanted, at least 33% of the staff would be out the door.

yes, most just play with there mobile all day and can't wait until 5.00 .... there is the rare one who actually wan'ts to help and knows the product. 

7 hours ago, ExpatOilWorker said:

How long before we will see a Chinese department store open up?

Back in 1927 you would have seen one and still present today:- (ref. wikipedia)

 

In 1927, 22-year-old Tiang Chirathivat, an immigrant from mainland China, started a store in Bangkok named "Keng Seng Lee" or "baskets for sale", which was the start of an emporium.^[1]

Later that year, the store moved to Charoen Krung Road, in Bangkok's Si Phraya District. The store sold a large variety of local and international newspapers and magazines and carried the name "Central Trading Store". This was the first chapter of Central Department Stores' history.^[1]

Sadly, not the rising sun, but the setting sun:-

 

7 hours ago, steven100 said:

Who want's to be hounded by sales staff at every turn when one can sit in their lounge chair at home and decide.  

Or better, procrastinate, then post flippant comments here instead of ordering anything

6 hours ago, spidermike007 said:

Part of the reason why they are closing is due to Covid. Isetan announced they will not be renewing their lease at Central World too. But, Japanese investments in Thailand are way down, and many companies are pulling out. They see this toxic army, their incompetence, rhe backwards direction the nation is moving, the extreme lack of competence, and it gives them the willies. As it should. Covid can and will be blamed. But, it is far deeper and more sinister than that. 

 

It appears that Japan is averse to what they see as the increasing influence of China here. That is a big issue for them. Also, the US-China Trade war, periodic flooding, with no solutions in sight, and the baht appreciation are issues. Many Japanese companies are exiting China. This is an opportunity for Thailand. But, the extreme incompetence here seems to be inhibiting the ability to move the nation forward. 

 

Instead, some are moving to Vietnam, India and other countries. 

Please allow me to ensure you that Isetan and Tokyu department stores are not the Japanese government but entities that sell goods for profit, nothing more.  

7 hours ago, ExpatOilWorker said:

How long before we will see a Chinese department store open up?

Don't count on it. Zen is gone as well.