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Isetan Mitsukoshi to launch Mi Plaza outlets in Japan

RBR Staff Writer Published 19 August 2013

Isetan Mitsukoshi, the solely owned holding company of the Mitsukoshi and Isetan department stores, plans to launch small community-based stores, Mi Plaza, in Japan.

To be slated to open in September this year, the Mi Plaza outlets will mainly focus on fashion-conscious women. This move will strengthen the company's presence and expand the brand's retail network.

The first outlet, under the plan, will be opened in western Tokyo suburb of Ome on 4 September. The second store is scheduled to open in Sendai on 10 October, reports The Japan Times.

Further, the company has firmed up its plans to double its total of Mi Plaza stores, Isetan Mirror luxury cosmetic shops and other small outlets to 150 by fiscal 2015.

Founded in April 2008, Isetan Mitsukoshi posted a 11.4% rise in it net profits for the first quarter of 2013 due to increased sales and lower expenses.