Japanese sports brand Mizuno has announced that it will close 200 unprofitable stores in China.
With regard to this restructuring, Mizuno said it is a part of the company's development strategy in China. At the same time, the company revealed that the store closures are mainly in the markets of Beijing and Shanghai, but the company will continue to open new stores in other Chinese cities.
China is reported to be a major market for Mizuno and the company's stores in first-tier Chinese cities, including Shanghai, Beijing, and Guangzhou, are mainly directly-managed stores. By the end of 2008, Mizuno had opened 206 directly-managed stores and 642 franchise stores in China.