Reliance Brands Ltd, which has announced a joint venture with Ryohin Keikaku Co., Ltd, to launch Japanese lifestyle retailer Muji in India, is to unveil the latter’s first stores in the country by mid-2016.
Ryohin Keikaku Co. Ltd. is mainly engaged in the retail of self-brand goods, with a market capitalization in excess of USD 4.8 billion (as of June 15, 2015) and an annual turnover of USD 2.2 billion.
Characterised by a streamlined, minimalist design ideology, Muji is distinguished by its design minimalism, emphasis on recycling, avoidance of waste in production and packaging, and no-logo or “no-brand” policy. Muji started with 40 products during the 1980s, their products range from stationery, and clothing for men and women, to food items and major kitchen appliances and has even included an automobile. Its primary business includes Café Muji, Meal Muji, Muji Campsite, florist and home furnishing; the company has also engaged in architectural project such as the Muji houses.
“International expansion is of utmost priority at MUJI and India is our next big Asian market with immense growth potential. India’s young, educated and cosmopolitan population gives MUJI a ready cache of Prospective customers,” said Satoru Matsuzaki, President and Representative Director of Ryohin Keikaku. “In Reliance Brands, we have found the perfect partner with a long term view of the market and strong operational expertise. We believe that together we can build the MUJI brand to the same level of triumph and customer loyalty that it has come to enjoy in Japan.”
The Joint Venture in India will offer the complete lifestyle range from MUJI through large format standalone stores with store sizes ranging from 6,000 – 10,000 sq. ft.
Commenting on the partnership, Darshan Mehta, President & CEO, Reliance Brands Ltd. Said, “MUJI is simplicity – but a simplicity achieved through a complexity of thought and design. Their products are extremely high-quality and have been designed to cater to the lifestyle of urban dwellers. We have great confidence that the Indian consumer will embrace MUJI because the brand in its deliberate pursuit of the pure and the ordinary – achieves the extraordinary.”
MUJI has a strong global brand presence of 700+ stores across Japan, Asia, Europe, the USA and Australia. Outside of Japan, China is the largest international market for MUJI. MUJI entered China in 2005, and by 2014, the brand had 100+ stores in the country.