Discount Retail Chain Daiso Industries, the operator of the Japanese 100-yen chain Daiso, plans to boost its store network in the US by more than 10 times the current number as customers respond well to the chain’s affordable products amid soaring inflation.
According to The Japan Times, the retailer has more than 80 physical stores in the country currently, most of them in California and Texas. About 30 stores are slated to open in the market during the next fiscal year.
The retailer aims to increase the Daiso store number in the US to at least 1000. Daiso opened its first store in the country in 2005 in Alderwood Mall located in Lynnwood, Washington.
A spokesperson of Daiso said the chain will aggressively go into new areas abroad as it believes discount products will catch on overseas too. Earlier this year, the operator of Daiso in Hong Kong, Aeon Hong Kong, said it plans to increase its Daiso specialty store network in the territory and Mainland China despite losing US$60 million last year.
Established in 1977 by Hirotake Yano, the discount retail chain has more than 3,600 stores in Japan and 2,300 international stores in 25 countries and regions, its biggest markets including South Korea, Thailand and the Philippines.
See here for more: Daiso eyes increasing its US store network more than 10 fold - Inside Retail