SSI to boost presence of Japanese retailer

Luxury brands retailer SSI Group Inc. has sealed a joint venture with Japanese firm Ryohin Keikaku Co. Ltd. (RKC) to further develop the MUJI retail business in the Philippines. SSI is infusing P89.25 million for a 51-percent stake in the joint venture company (JVC), while RKJ will shell out P85.75 million for a 49-percent stake in the joint venture.

The JVC, to be named MUJI Philippines Corp., is expected to commence operations this April 1. “The joint venture with RKJ is expected to strengthen the MUJI brand in the Philippines and enable cost efficiencies,” SSI reported to the stock exchange. SSI owns franchises for 781 designer brands such as Lacoste, Prada,, Ralph Lauren, and Bally.

It also operates the Family Mart chain of retail stores.Any profits from the JVC shall be distributed proportionately to the ownership in the JVC of each of SSI Group’s subsidiary, Stores Specialists, Inc., and RKJ. SSI shall provide the JVC with operational knowledge and apparel and retail sales expertise specific to the Philippines; while RKJ shall provide the JVC with brand management expertise and retail experience specific to the MUJI brand.

Stores Specialists owns and operates specialty retailing boutiques for a range of international brands, including luxury and bridge, casual wear, fast fashion, footwear, luggage and accessories and personal care brands. Ryohin Keikaku is engaged in the planning, development, procurement, logistics and processing of goods under the brand name MUJI, as well as the operation of MUJI retail stores and the wholesale of MUJI goods to its trade partners.

SSI owns and operates specialty retailing boutiques for a range of international brands, to include luxury and bridge, casual wear, fast fashion, footwear, luggage and accessories and personal care brands. RKJ is a Japan based company engaged in the planning, development, procurement, logistics and processing of goods under the brand name MUJI, as well as the operation of MUJI retail stores and the wholesale of MUJI goods to its trade partners.

RIZA LOZADA