According to Masaaki Kanai, the CEO of Ryohin Keikaku, despite the gloomy global economy the company plans to increase the number of its Muji stores in China to 30 by the end of 2010.
Kanai revealed the company's plans during the opening ceremony of its fifth store in Beijing and he said that the Chinese market has brought the company an opportunity to gain high profits. He said Muji's rate of expansion in China will soon exceed that in its domestic Japanese market. This new store in Beijing is the 11th Muji store in China.
So far, Muji has 333 stores in Japan and about 15 new stores will be opened each year. At the current rate of expansion, Kanai predicted that China will become the largest market for Muji in ten years.
Muji sells products, that include clothing, stationery, bedding, and kitchenware, which target middle-class consumers. Out of its range of 8,100 products, 3,000 are sold in its chain stores in China.