Ryohin Keikaku Co., Ltd. (Tokyo; Satoru Matsuzaki, President & Representative Director) has announced its plan to open two MUJI stores in the Republic of India under a joint venture with Reliance Brands Limited (Mumbai, India; Darshan Mehta, President & CEO).
In news releases dated June 17 and December 11, 2015, Ryohin Keikaku announced the creation of a joint venture with Reliance Brands for the purpose of opening MUJI stores in India. Ryohin Keikaku also announced that it became the first-ever Japanese retailer to receive individual approval for Foreign Direct Investment from the Indian government's Foreign Investment Promotion Board.
MUJI will be the first Japanese retailer ever to open stores in India, with one new store in Mumbai, the commercial capital of India, and another store in Bengaluru, the hub of India's IT industry.
MUJI Palladium with be the first MUJI location in India. Palladium, opened for business in December 2009, is one of India's largest commercial facilities, attracting more than 24 million visitors annually. This shopping center is home to a number of high-end luxury retail brands, restaurants, and a food court. The neighboring five-star hotel, cinema complex, and other facilities serve as additional anchors to attract visitors, bolstering the location's ability to serve as a means to communicate new concepts.
MUJI VR Bengaluru will be the second MUJI location in India, installed in the VR Bengaluru next to Phoenix Market City, a major commercial facility in Bengaluru, India's third-largest city. The VR Bengaluru is one of the most popular shopping centers in India today, hosting fashion stores, as well as cinema complex and restaurants, all offering fresh takes on their respective business models.
With these two new locations, Ryohin Keikaku will share the MUJI concept of a simple,Pleasant life with the people of India, hoping to secure a place as a favorite shopping destination.
India No. 1 Store: MUJI Palladium
|Store Name||MUJI Palladium|
|Location||3rd Floor Palladium, 462 High Street Phoenix, Senapati Bapat Marg, Lower Parel, Mumbai 400013|
|Grand Opening||Scheduled for August 2016|
India No. 2 Store: MUJI VR Bengaluru
|Store Name||MUJI VR Bengaluru|
|Location||VR Bengaluru, Mahadevpura, Whitefield Main Road, Bengaluru India 560 048|
|Grand Opening||Scheduled for September 2016|
*Floor space figures are pending.
June 17, 2015 News Release
Ryohin Keikaku Signs Agreement for Joint Venture in India
December 11, 2015 News Release
Ryohin Keikaku Receives Approval for Foreign Direct Investment in Indian Joint Venture
Ryohin‐Keikaku Reliance India Private Limited
|Company Name||Ryohin‐Keikaku Reliance India Private Limited|
|Location||8th Floor, Maker Tower 'E', Cuffe Parade, Mumbai India 400 005|
|Capital||90 million rupees|
|Ownership||Ryohin Keikaku: 51% Reliance Brands Limited: 49%|
|Established||February 12, 2016|
|Business Lines||MUJI operations within in India|
Ryohin Keikaku Co., Ltd.
Corporate Planning Office Tel.