Kanako Itamae and Michel Lebon

Modern Tokyo Times

Japan is internationally famous within the fashion sector for being very dynamic when it comes to the luxury fashion market. After all, even during a long period of mainly stagnation to little growth the fashion sector continues to develop and grow. Of course, major Japanese and international boutiques had to re-adjust during difficult times and because of the power of social media and technology. However, despite all the negatives related to the Japanese economy during the last two decades many plush fashion boutiques made rich pickings throughout Japan.

It is known that the French group which controls the running of Gucci and Puma will focus on major renovation in the land of the rising sun based on optimistic economic hopes. Last year PPR SA (name will change to Kering in the near future) made a powerful sales increase of 9% when it came to their luxury brands. In total PPR is in charge of approximately twenty different brands. This reality highlights the extensive nature of their amazing portfolio.

Also, it is known that Puma outlets will expand based on the mega store in Osaka which opened up for business in late 2012. The Puma store in Osaka is the largest in the world and this sums-up the power of this amazing city. Therefore, the mega store in Osaka will become a stepping stone for expanding within Japan and in other parts of Asia.

In Japan the luxury market is extremely powerful because of the status image, the need to feel fashionable and upwardly mobile. Other essential areas apply to the pleasure of refinement and where quality in many walks of life is deemed an essential ingredient for obtaining a powerful lifestyle. Alongside this is the power of customer service because it is important that companies appreciate and value their clients by treating people with courtesy and utter professionalism.

The above reality means that a complete shopping experience is highly appreciated by individuals who adore luxury boutiques. This is also noticeable when it comes to the décor of respective brands. After all, fashion lovers of luxury brands appreciate space, layout and a relaxing environment. Therefore, many angles need to be focused on outside of fashion itself and this can be seen by the power of architecture for crème de la crème brands and in relation to other important areas.

Department stores have also witnessed early growth in the first quarter of 2013 and this bodes well for all luxury brands. In Japan the elite department stores are famous for exquisite quality, amazing choices of the finest Japanese and international boutiques in the world and where quality is a must. Of course Tokyo hogs the limelight in Japan but the mega city of Osaka is equally amazing when it comes to fashion. Other cities like Kobe also play a powerful role because many internal trends often pass through this city first.

In another article by Modern Tokyo Times it was stated that “Technology is also growing in influence in Japan especially within the younger generation. This means that smartphones are now a major asset for some individuals when purchasing goods. Given this, it is essential that luxury brand companies respond to the changing social media in Japan. If not, then some will be left behind in the future because time, convenience, speed, and other essential areas, appeal greatly to many individuals.”

Another powerful aspect of the three mega areas of Tokyo, Osaka and Nagoya is that you have 64 million people within these three powerful zones. Alongside this is the purchasing power of many people within these three zones of major economic vitality. Not surprisingly, international brands continue to flock to Japan despite nearly two decades of negative economic growth. Indeed, this reality is also a strange safety net because it is clear that if companies can get everything right; then they can also grow and make rich pickings during long cycles of negativity within the overall domestic economy.

Therefore, with positive signs being forecast for 2013 it is clear that Gucci and many other luxury brands are hoping that Japan is going to enter a positive period of economic growth. Given this reality, it appears that Gucci senses good times ahead therefore this company will renovate and focus on making the most of the Japanese apple pie.

Lee Jay Walker gave guidance to both writers

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http://moderntokyotimes.com

Michel Lebon and Kanako Itamae

Modern Tokyo Times

The vibrant fashion district of Shinsaibashi will witness the opening of the first Monki store in Japan on June 1, 2013. This fashion brand which hails from Sweden is under the extremely popular Hennes & Mauritz AB (H&M) group. It was known last year that H&M would introduce Monki and Weekday to Japan by early 2014 at the latest. In another article published by Modern Tokyo Times it was stated that “this date could feasibly be moved forward” and clearly this is the case for Monki.

It is great for the Osaka fashion scene that Monki decided to open their frirst store in Japan in this amazing city. After all, while Osaka plays second fiddle to Tokyo when it comes to press coverage, it is abundantly clear that this city can hold its own. H&M clearly understand the vibes of Japan because this brand is extremely popular throughout this country. Therefore, H&M decided that Osaka was a fitting city to introduce Monki to the people of Japan.

Last year H&M opened new stores in several parts of Japan and of major significance was the focus on the Nagoya area. In truth, the maturity of H&M in Japan can be witnessed by how they expanded throughout Tokyo and the Kanto area in general. This was followed by greater penetration within Osaka and other powerful fashion environments within the Kansai region.

The introduction of Monki and Weekday to the Japanese fashion market is clearly a clever touch by H&M because both fashion brands will enhance the reputation of this company. Also, the different fashion angles to both Monki and Weekday will highlight the diversity within the H&M fashion group. Therefore, many fashion lovers of H&M will enjoy this new freshness and for shoppers in Shinsaibashi they will be the first to experience Monki which will reach out to a new client base.

In the buzzing fashion district of Shinsaibashi you have many powerful boutiques. A partial list includes Chanel, Gucci, Dior, Coach, Armani, Fendi, Rolex, Cartier, Dolce & Gabbana, Diesel, Louis Vuitton, Omega, Versace, Yves Saint-Laurent, Dunhill, BVLGARI, Givenchy, Beams, H&M, Ships, Uniqlo, United Arrows, Franck Muller, and many others including Benneton. Therefore, the delightful fashion of Monki will start its new venture in Japan in a very high octane district.

In another article by Modern Tokyo Times in relation to the electric fashion scene of Osaka it was stated that “If you visit the Midosuji Boulevard and the area surrounding the Nagahori-dori intersection within the Shinsaibashi district, then you will notice so many amazing boutiques. This part of Osaka fuses naturally within the vibrancy of fashion in this amazing city. Namba may be much more independent but collectively the fashion districts are enriching each other. After all, it highlights the vibrancy of fashion in Osaka irrespective if this applies to high-end fashion boutiques, independent fashion, mainstream fashion, and the wealth of other fashion styles which can be found in this fascinating city.”

Monki will provide its own vibrancy to the adorable fashion scene of Shinsaibashi in Osaka.

Lee Jay Walker gave guidance to both writers

http://www.monki.com/

http://en.fashion-headline.com/article/2013/05/27/990.html

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Modern Tokyo Times images

Hiroshi Saito and Sarah Deschamps

Modern Tokyo Times

The stylish American lifestyle fashion brand, Kate Spade, is focused on opening five stores in Japan by the middle of 2013 in relationship to the sister brand. Omotesando in Tokyo was selected earlier in March this year to become the flagship store in Asia for Kate Spade Saturday. Kate Spade Saturday is entering the Japanese market with such an advantage because of the Kate Spade brand being firmly established in Japan.

Osaka followed on because a new store was opened also in March this year shortly after the flagship store in Omotesando. The Osaka environment is extremely powerful both commercially and in the area of fashion because of many trendy districts like Namba, Umeda, Shinsaibashi and many others. Also, the closeness of Kobe to Osaka provides one enormous hub for Japanese and international commerce. Therefore, Kate Spade Saturday certainly picked the two economic powerhouses in Japan.

The Kate Spade Saturday brand will fit in well with the environment of Harajuku and Omotesando because these two amazing fashion districts naturally flow together. Harajuku is internationally famous for youth fashion and many subcultures which thrive in this trendy part of Tokyo. This reality fits in well with the amazing mix of colors which can be found at Kate Spade Saturday.

Also, the main street which links Harajuku and Omotesando provides a very bohemian vibe. More important, you have so many different fashion trends. This applies to kawaii culture; the buzzing fashion boutique 6%DokiDoki (6%DOKIDOKI) which fuses kawaii culture with chaotic punk based on adorable color schemes; American street style fashion in the backstreets of Omotesando; exquisite Japanese and international boutiques in Omotesando; independent vibes; mainstream fashion in and around Omotesando Hills; and an array of other styles. Therefore, Kate Spade Saturday will be rewarded for its lovely creativity and independent styles which come alive by amazing color schemes.

Kate Spade and the New York fashion angle certainly suits major cities in Japan which are home to the crème de la crème of Japanese and international brands. At the same time, you have very distinctive features of major cities like Tokyo, Osaka and Kobe. Kobe is sometimes overlooked but often many vibes enter this city first and then they impact within Japan. The strong bond of American fashion and culture is also extremely popular in Japan. This reality means that Kate Spade Saturday should suit the natural intensity of fashion within this amazing country.

The president of Kate Spade in Japan is Ayako Yanagisawa and she stated in Reuters that “Because the brand’s concept originated in Japan and we really wanted to make the brand global, we felt Tokyo was the perfect city to launch this brand.”

Theresa Canning Zest, the Kate Spade Saturday creative director, informed The Japan Times that “We have been here for more than 15 years. So the brand awareness and affinity is very strong here. Therefore, it made sense to launch another brand with the Kate Spade name in it here first.”

Lee Jay Walker gave guidance to both writers

http://www.katespade.com/ Kate Spade website

https://www.saturday.jp/ Kate Spade Saturday website in Japanese

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Tomoko Hara and Sarah Deschamps

Modern Tokyo Times

Ron Herman just increased its clout in Japan further by opening two new stores in two trendy areas in Tokyo and Osaka. The Grand Front Osaka was bound to hit a chord with exquisite companies and clearly Ron Herman didn’t want to pass such a golden opportunity. Therefore, Ron Herman’s first venture into the fashion scene of Osaka is based in this amazing new concept which is located in the heart of this amazing city. Meanwhile, in Tokyo a new Ron Herman store opened in Tokyo Midtown in the Roppongi area.

These two new stores opened in late April 2013 and this brings the number to eight stores in trendy Japan for Ron Herman. This delightful company is run by Sazaby League, Ltd. Therefore, while venturing into the Roppongi fashion scene is interesting by itself, it more significant that this brand is now open to the public in Osaka.

Osaka fashion and style is amazing because you have ample fashion districts in this ultra modern part of Japan. Indeed, if fashion companies are intent on developing throughout Japan then clearly Tokyo and Osaka are the prime cities because of their collective economic power and ample fashion districts. It is hoped that the venture into Grand Front Osaka will be the start of something fresh in this part of Japan.

Zara Home also opened a new store in Grand Front Osaka because of the prestigious nature of this new concept in the heart of this flourishing city. This company is firmly established in Europe, Middle East, North America and South America and they also have a major presence in China and Japan. The international nature of Zara Home is abundantly clear because they have so many stores open throughout the world.

A PR representative of this company stated that “Grand Front is a favorable location with attractive Umeda clientele. One ‘home’ can be completed with ZARA HOME items.” For individuals who have never visited Umeda and the surrounding fashion districts then clearly this area must be put high on your list if you have the opportunity to visit this part of Japan. The buzzing vibes of Shinsaibashi, Namba and Umeda are truly exuberant because of exquisite fashion which runs throughout many fashion districts in vibrant Osaka.

Zara Home also opened a new store in LaLaport Yokohama in order to enhance their growing influence within the Japanese market. Lifestyle lovers will certainly enjoy this new store because of the quality products on sale and the array of imagination which goes into their respective stores.

Lee Jay Walker gave guidance to both main writers

http://www.zarahome.com/ Zara Home

http://www.ronherman.com/ Ron Herman

http://en.fashion-headline.com/ Fashion Headline for the latest Tokyo and Japan vibes

http://en.fashion-headline.com/article/2013/05/07/868.html Fashion Headline and Zara Home

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Joachim de Villiers and Lee Jay Walker

Modern Tokyo Times

President Vladimir Putin of the Russian Federation and the Japanese Prime Minister Shinzo Abe have just held important talks in Moscow. It is clear that both political leaders want to develop stronger ties in several important areas. Therefore, the talks went according to plan because many positive initiatives came to the fore.

The territorial dispute between the Russian Federation and Japan hindered real developments in the past but under Abe it appears that Japan fully understands the changing sands. This applies to the growing strength and influence of the Russian Federation and this especially applies to China, Central Asia, India, Iran and many other powerful nations. Also, the Russian Federation is seen favorably by all Bric nations because political elites in Moscow want to see a more even approach to international events. Thereby, reducing the power and influence of the United States and other nations involved in the Atlantic alliance system.

Japan continues to be embroiled in more severe territorial disputes with China and South Korea. In this sense, the Russian Federation can be viewed to be “a neutral power” in calming down the situation. Likewise, the Korean Peninsula remains tense and while China’s clout may be heavier in Pyongyang, it is still true to say that North Korea takes note of the Russian Federation.

Putin and Abe have apparently informed their respective foreign ministries to move ahead on the territorial dispute but clearly any reached agreement will take time. Both political leaders have promised to further strengthen energy related issues and economic ties.

The territorial dispute surrounding the Southern Kuriles/Northern Territories needs to be separated from issues related to economics, joint military initiatives and energy related issues. Japan can benefit greatly from the energy rich Russian Federation and Moscow can boost Japan’s clout in Central Asia because of powerful ties. In truth, both nations can enhance each other therefore mutual acceptance of this should “break the chains” of the territorial dispute.

During Abe’s trip a powerful 120 strong business delegation came in order to strengthen economic ties and build new economic initiatives. The size of this delegation also spoke volumes about the real intentions of Japan.

RIA Novosti reports that “Russia and Japan also agreed to set up a new “2+2” negotiating format, involving consultations between the two countries’ foreign and defense ministers, which should enhance the level of bilateral trust “in the defense and security field,” Abe said.”

“Putin said the development of bilateral economic ties with Japan will be the best possible way of addressing a number of issues, including the signing of a peace treaty.”

The Russian Federation and Japan need to focus on important areas related to economics, energy related issues, technological developments and security related issues. In this sense, it is time for Japan to move forward in positive areas with the Russian Federation rather than pushing the territorial issue to the forefront of issues involving both nations. It appears that Abe understands this and hopefully both political leaders will build on fostering stronger ties which will enhance both nations.

http://en.rian.ru/russia/20130429/180909657/Japan-Russia-Agree-to-Revive-Peace-Talks.html

leejay@moderntokyotimes.com

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Sarah Deschamps and Michel Lebon

Modern Tokyo Times

The continuing expansion of Hennes & Mauritz AB (H&M) throughout Japan is clear to all fashion lovers in this nation. At first H&M focused heavily on Tokyo and Kanto which is the natural route into the Japanese fashion market. However, the pulling power of Osaka and the Kansai region soon materialized and in 2012 the Nagoya area followed the logical path of expansion. This reality means that 2013 will also witness new ideas from the trendy H&M brand in Japan.

H&M in countless surveys done by Modern Tokyo Times did extremely well because this dynamic company was ranked high on the list. These surveys relate to female fashion in trendy Tokyo and were aimed at younger ladies. Therefore, the age groups selected mainly focused on the range of 18 to 34 years of age.

It is clear that when H&M entered the Japanese market fully in 2008 that this company had great vision and natural self-confidence. This isn’t surprising because H&M was already a big hit throughout Europe and North America. Given this reality, then H&M had already achieved a buzz within Japan before opening their first store. Not surprisingly, many fashion lovers were waiting in anticipation because of the freshness of this company and its sheer innovation.

Several years later then in numerous surveys throughout Tokyo the company H&M was extremely high on the fashion radar. It didn’t seem to matter which district was picked because the same conclusion highlighted the power of this company within the Tokyo fashion market. This reality meant that in surveys taken in Ginza, Harajuku, Ikebukuro, Omotesando, Daikanyama and other powerful fashion districts in the capital of Japan, many trendy ladies selected H&M.

In another article by Modern Tokyo Times related to H&M it was stated that “The “fast fashion” brand of H&M is extremely popular for younger Japanese individuals because this company is trendy and affordable at the same time. H&M first moved to Japan in 2008 in trendy Ginza in Tokyo and since this time the company continues to grow and attract new shoppers. Therefore, the new outlet in Nagoya, which is based within the Matsuzakaya department store, is further evidence of the gradual move to other parts of Japan and this is most welcome.”

The second major area of expansion for H&M was the Kansai region and with great emphasis being put on the powerful Osaka and Kobe area. Osaka is a mega-city and areas like Namba, Umeda and many others, are awash with the finest in Japanese and international boutiques. Indeed, Osaka should be much higher on the international fashion map. This notably applies to the sheer size of the population and the purchasing power of individuals throughout this major economic hub which encompasses Osaka, Kobe and Kyoto.

The amazing “fast fashion” brand of H&M meant that it could enter the Ginza market with ease in Tokyo despite the leafy nature of this buzzing part of the capital city. Ginza is famous for the crème de la crème of fashion boutiques whereby the price range is often very pricey. This is only to be expected given the companies located in Ginza and Yurakucho. However, H&M took this in their stride and soon became a powerful brand within the high octane nature of Ginza fashion.

For now the rise of H&M is continuing in Japan because this company connected with Japanese ladies very quickly. H&M plays to the strengths that this company is blessed with and when extreme confidence is added to this, then clearly you have powerful forces at play. Therefore, for fashion lovers who adore H&M in Japan they will be eagerly awaiting new fresh ideas in 2013 from this innovative fashion company.

leejay@moderntokyotimes.com

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Michel Lebon and Tomoko Hara

Modern Tokyo Times

Tokyo and Osaka are amazing mega-cities whereby the fashion and beauty scene is always changing. Osaka is a hidden gem within Japan because this amazing city doesn’t hit the lofty international headlines like Tokyo. However, Osaka and the conurbation area which incorporates Kobe is one enormous zone which can compete favorably with all major international zones of trade and commerce.

The fashion and beauty angle in Osaka is equally amazing and each year you have new amazing developments in the realm of modern architecture. Tokyo is the usual stepping stone for international boutiques to enter the Japanese fashion sector but Osaka is powerful in its own right.

Forever 21 opened its first flagship store in Osaka on April 20 this month in the Dotonbori district. The new venture witnesses the first business dealing between Forever 21 and Parco and this bodes well for future dealings. Internationally, Forever 21 is currently blessed with 500 stores. Therefore, given the power of Osaka within the Kansai region then the new Dotonbori opening may become a future stepping stone for this stylish company within this vibrant part of Japan.

Jacob Cohen which is a stylish jeanswear and upper sportswear company opened today in the trendy Roppongi district. The sales manager, Marco Tiburzi, stated that “We also aim at increasing our presence in new markets such as former Russian countries as well as growing in the Far East. We are interested in expanding, though we want to do it gradually without going against our own identity.” Once more, it would appear that Tokyo is the stepping stone for not only Osaka but also for China because it is known that Jacob Cohen hopes to enter the Chinese market over the next few years. Roppongi is known for its international flavor therefore this district appears to be a natural suit for Jacob Cohen.

In the same fashion district of Roppongi a new Alexander McQueen accessories store opened to the general public earlier this month. The Alexander McQueen brand is famous because of exquisite elegance. Therefore, the new store will sell a variety of adorable goods ranging from bags, leather goods, jewelry, scarves and other lovely products.

Tokyo and Osaka fashion is always forward thinking and this applies to the Japanese and international angle. Also, with Planet Blue also entering the Roppongi fashion scene, then clearly many developments are taking place in this vibrant district alongside the mentioned openings of Alexander McQueen and Jacob Cohen. In the meantime new mega developments in Osaka are ongoing in many sectors and clearly the fashion angle is a lovely way to escape all the stresses of life.

Lee Jay Walker gave guidance to both writers

http://www.alexandermcqueen.co.uk/alexandermcqueen/en_GB Alexander McQueen

http://www.jacobcohen.it/#/home Jacob Cohen

http://www.forever21.co.jp/ Forever 21

http://en.fashion-headline.com/ Fashion Headline

http://www.sportswearnet.com/businessnews/pages/protected/Jacob-Cohen-bets-on-export-and-hires-Lorenza-Chiavarini_6630.html

http://www.parco.co.jp/group/en/pdf/press_120719.pdf

leejay@moderntokyotimes.com

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Sarah Deschamps and Kanako Itamae

Modern Tokyo Times

The Japan Department Stores Association announced more positive news for department stores in this country. It was reported that annual sales at major department stores grew collectively by 3.9% in March 2013.  This follows on from the first two months of 2013 which also showed economic growth. However, the growth figure in March outstrips the two previous months and clearly the current year is starting on a positive note.

In Tokyo the sales growth from the previous period twelve months ago was a very vibrant 6.4% in March. The figure in February was a respectable 2.5% but clearly the pace of growth is currently growing. Of course, the saying says that “one swallow doesn’t make a summer” therefore it is too early to predict the rest of 2013. In saying that, the signs look positive because within the political and banking structures of Japan you are witnessing fresh signs of hope.

Major cities like Kobe, Osaka, Nagoya, Sendai, Yokohama, and many others, highlight their own vibrant features within the fashion and retail sector in Japan. Emphasis and focus is often aimed at the Tokyo market but this distorts the real picture because the economic zone linking Kobe and Osaka is extremely powerful. Also, Kobe often creates new vibes before they enter the Tokyo scene. Similarly, in Osaka the vibes of Shinsaibashi, Namba, and other powerful districts, are a wonder to behold because of the notable sophistication and strong independent vibes which exist throughout this mega-city.

Takashimaya Department Store is reported to have witnessed a healthy internal sales figure of 5% in March from the previous year. This follows on from reaching a consolidating profit of 20% for this company in 2012. Takashimaya is also hoping to expand further in Asia therefore a new vibrancy is on the horizon within this company.

At the same time new international companies are entering the Japanese market. For example Steven Alan and Planet Blue have just entered the trendy Tokyo fashion scene in 2013. Therefore, with new international developments shaping the fashion scene in Japan it clearly highlights that this nation remains to be a major magnet for global fashion companies. In a sense, the fashion sector often beats to a different drum in Japan because quality is highly valued at all times therefore luxury brands value the Japanese “apple pie” greatly.

Timothy Schepis at (http://www.tokyofashiondaily.com/) Tokyo Fashion Daily states that “Driving sales across Japan`s department stores in March was women`s apparel, jewelry, and timepieces which increased a huge 34.9%.”

It is hoped that the current economic outlook within the fashion and department sector will continue to flourish in the following months. If this happens, then a new vibrant period will hopefully trigger new independent trends and enable up and coming designers to get a fair crack at the whip. Of course, nothing can be taken for granted but the signs look optimistic.

Lee Jay Walker gave guidance to both writers

Modern Tokyo Times images 

http://en.fashion-headline.com/ Fashion Headline

https://twitter.com/tokyofashndaily Tokyo Fashion Daily

http://www.rttnews.com/2096399/japan-department-store-sales-growth-quickens-in-march.aspx?type=alleco

http://www.tokyofashiondaily.com/2013/04/japans-department-stores-up-in-march.html

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Hiroshi Saito and Sarah Deschamps

Modern Tokyo Times

The luxury fashion market in Japan is internationally famous because this country is known to consume more items than any other nation. This reality means that major cities like Tokyo, Osaka, Kobe, Nagoya, Sendai, Yokohama and many others are awash with the crème de la crème of major international and Japanese luxury brands. Department stores also play a major role because some of the finest stores in the world are found in Japan. Therefore, with positive economic signs on the horizon in Japan based on strong sales for many retail companies in early 2013; then many new developments should open-up throughout the remainder of the year.

Indeed, one amazing feature of the Japanese luxury fashion market is that despite negative economic growth it appears that this sector ticks to a different tune. Areas like Kobe and Osaka are extremely close thereby both major cities enhance each other. These two cities also have a very vibrant fashion scene which caters from the most exclusive boutiques in the world to mainstream fashion. Also, Osaka is a major city by itself and when connected with Kobe then you have one continuous huge fashion market.

In another article by Modern Tokyo Times it was stated about Osaka that “If you really want to feel a special vibe then a visit to the Midosuji Boulevard is a must. This area is blessed with being tree-lined and you have a really nice feel to this part of Osaka. Also, if you have time on your hands then the mixture between this area and Namba is extremely illuminating. On top of this, you are blessed with so many amazing boutiques to visit and the cultural changes between the Midosuji Boulevard and the 24 hour vibrancy of Namba highlights the power of culture in Osaka.”

“A partial list of companies based in Shisaibashi and the surrounding area includes Chanel, Gucci, Dior, Coach, Armani, Fendi, Rolex, Cartier, Dolce & Gabbana, Diesel, Louis Vuitton, Omega, Versace, Yves Saint-Laurent, Dunhill, BVLGARI, Givenchy, Beams, H&M, Ships, Uniqlo, United Arrows, Franck Muller, and many others including Benneton. This partial list highlights the high octane nature of fashion in this adorable part of Osaka and if you are a fashion guru then this area is a must place to visit.”

Meanwhile, in Tokyo you have several adorable leafy districts to enjoy exclusive fashion. The vibes of Aoyama, Ginza, Omotesando and Yurakucho springs to mind quickly. Likewise, in powerful fashion districts like Ikebukuro and Shinjuku you will find a wealth of many different styles. Mixed in within the diverse fashion angles of Ikebukuro and Shinjuku are also exquisite luxury brands which can be found in various trendy parts of these two amazing fashion districts.

Major luxury brands like Louis Vuitton, Bulgari, Hermes and a whole host of other luxury brands have heavy exposure in Japan. Indeed, for many luxury brands it is clear that Tokyo and Osaka, and other powerful cities, are a collective saving grace during global economic downturns. After all, the so-called “two lost economic decades” in Japan doesn’t appear to have altered the allure of luxury fashion brands throughout this country.

Therefore, Japan is often the fashion stepping stone prior to entering the Chinese and South Korean market for the majority of famous boutiques. Japan is not only tried and tested but this nation continues to attract new forces within the world of fashion. Also, for many famous international designers who were outside of the Japanese fashion market, then in time this often changes because the lore of Japan is too strong. This fact naturally follows on from the buzzing and vibrant fashion scene throughout Japan and which is expressed openly in major cities like Tokyo and Osaka.

The President of Gucci and CEO of this company, Patrizio di Marco, commented about the Japanese market. He stated that “Japan is one of the biggest and most important luxury markets in the world, with sophisticated and technological consumers. In the last ten years, the most important brands went through times of difficulty, and the situation is still complex. The year 2011 was a time of recovery both in terms of revenues and brand recognition among Japanese clients….We are still investing a lot, both in terms of quality and marketing, there probably is no other market other than Japan in which Gucci’s positioning is more appropriate.”

Patrizio di Marco therefore is highlighting both the complex nature of the luxury fashion market in Japan. Yet at the same time he is making it clear how important Japan is for many famous luxury brands. It is this reality which keeps on pulling in new exquisite designers who enter the vibrant Tokyo and Osaka fashion scene. Of course, each new luxury brand will adopt a different approach to expanding in Japan but a great emphasis is put on expanding in Tokyo and Osaka – and in time – to expand in other major cities like Kobe, Nagoya and so forth.

It is also factual that the vast majority of international luxury brands base themselves in Japan first before expanding to China and South Korea. Therefore, despite the negative global economy it is abundantly clear that for fashion lovers it is “business like usual.”

Modern Tokyo Times images 

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Hiroshi Saito and Walter Sebastian

Modern Tokyo Times

Under the new Governor of the Bank of Japan a new policy is being ushered in whereby many powerful individuals are raising alarm by the actions of Haruhiko Kuroda. This applies to the target set by Kuroda who is breaking with the usual approach of conservatism. Kuroda who recently became the new Governor of the Bank of Japan is determined to reach a 2% inflation target. Prime Minister Abe, just like Kuroda, believes that the vicious economic cycle must be broken therefore both individuals are spearheading a new approach.

However, powerful individuals like George Soros and Bill Gross, and many others, are alarmed by the risks involved. Soros told CNBC that “If the yen starts to fall, which it has done, and people in Japan realize that it’s liable to continue and want to put their money abroad, then the fall may become like an avalanche.”

At the moment the economic ship is afloat because the new policy is still in its infancy. Therefore, while many individuals are focusing on some early signs of rejuvenation with regards to the Japanese economy – for example the recent rise of the stock market – obviously it is way too early to feel positive about the risks involved further down the road.

Masaki Shirakawa, the preceding Governor of the Bank of Japan, is also worried about the new approach by Kuroda. Shirakawa stated that “A lack of cash isn’t what’s keeping companies from increasing capital expenditure.”  He continued by stating that“If there was a single thing that would have cleared the fog and solved all problems, Japan wouldn’t have been in this situation for 15 years.” 

Shirakawa hinted that printing money aggressively by itself will not be enough to break the ongoing reality of deflation in Japan. When this is linked with the concerns of Soros then clearly Japan is entering a very rocky period.

Kuroda announced recent plans to double the purchase of the Bank of Japan’s monthly undertakings of bonds. This amounts to a staggering amount which currently comes to just under $78 billion dollars at the current yen and dollar exchange rate. Not surprisingly, the yen continues to plummet and again this may cause international political concerns in the long-term because of massaging the yen rate. Therefore, while Kuroda is bullish about this it is clear that Soros is worried because he stated that “If what they’re doing gets something started, they may not be able to stop it?”

Soros further stated that “What Japan is doing right now is actually quite dangerous because they are doing it after 25 years of just simply accumulating deficits and not getting the economy growing.” This echoes the logic of Shirakawa who equally pointed out that if printing money was the magic wand then clearly Japan would have done this a long time ago. Also, while the international economy is showing signs of picking up you still have enormous uncertainty in Europe and clearly economic measures in America have not yet fully hit home. On top of this, you have mass uncertainty in the Middle East and North Africa and now issues related to the Korean peninsula are once more heating up.

Soros also commented that “Nobody believed Kuroda would have the courage to do what he did…The amount of quantitative easing that he’s introducing is the same as in the United States, but Japan is only one-third the size.  So it’s three time more powerful than what’s happening in the U.S.”

In another article by Modern Tokyo Times it was stated that “Kuroda is adamant that the cycle of deflation which continues to blight the economy of Japan can be eased by pumping money into the economy providing it is aggressively done and based on certain targets.”

Kuroda commented before becoming the Governor of the Bank of Japan that “I believe that [the BOJ] is not doing enough in terms of the size of its asset purchases or the range of assets being bought.”

Further in the article by Modern Tokyo Times it was stated that “Abe and others within powerful economic ministries are focused on an ultra-easy monetary policy which will be implemented aggressively.  On the one hand you will have money being pumped into the economy. While on the other hand great emphasis is being put on weakening the Japanese yen in order to boost exports. This policy is fraught with problems ahead but something needs to break the cycle of deflation but coming up with a solution is not so easy. Also, major economic competitors may become disillusioned by Japan manipulating its currency therefore while the waves are not so rocky at the moment during the infancy period; this doesn’t mean that waves will not increase in the long-term.”

Kuroda is certainly taking economic risks and it is essential that Prime Minister Abe delivers with regards to rejuvenating the economy of Japan. For now, nobody doubts that Kuroda isn’t afraid to take risks and the same equally applies to Abe. Yet how will both individuals respond if some G7 nations put pressure on Japan – or if the yen slides too much?

Lee Jay Walker gave guidance to both main writers

http://www.businessinsider.com/george-soros-on-bank-of-japan-2013-4

leejay@moderntokyotimes.com

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Tomoko Hara and Michel Lebon

Modern Tokyo Times

It is reported that consolidated operating profit for Takashimaya Department Store in 2012 reached a highly respectable 20%. On top of this, recent figures state that in March 2013 their internal sales were 5% up on the previous year during the same period. This clearly bodes well for this major department store in Japan.

In a previous article by Modern Tokyo Times about Takashimaya Department Store it was reported that a bullish 17% profit margin occurred between April and November 2012. Now it is apparent that consolidated operating profit for the entire year was 20% and with recent figures indicating further growth in March 2013, then it is hoped that this economic growth is pointing in the right direction for the entire sector in Japan. After all, in recent times the sale figures were often sluggish at Takashimaya because of the overall economy being negative, internal issues, unable to keep costs down, this sector being extremely competitive and other important factors.  However, now it would appear that Takashimaya is turning the corner.

Takashimaya can be found throughout Japan and they also have some international stores. In Tokyo the vibrant store in Shinjuku is a must place to visit for people who adore quality fashion goods and products. This applies equally to the crème de la crème of famous Japanese and international brands.

In Singapore famous companies like Anya Hindmarch, Armani Collezoni, Agnes.b, Bally, Bottega Veneta, Bric’s, Burberry, Bvlgari, Cartier, Coach, Davidoff, Diane von Fursterberg, DKNY, Emenegildo Zegna, Escada Sport, Furla, Gucci, Hermes, Kenzo, Kate Spade, Max & CO., M.C.L Jewelry, Pucci, Ralph Lauren, Salvatore Ferragamo, Scarlet & Ebony, TOD’S, and other amazing brands, can be found in the adorable Takashimaya Department Store. Not surprisingly, the above reality highlights the delightful nature of this company because in all Takashimaya stores you will find luxury throughout.

It is known that this company wants to expand over the next few years in various parts of Asia. Therefore, with earnings increasing then this fits in well with the future plans of Takashimaya.

According to Timothy Schepis (http://www.tokyofashiondaily.com/) at Tokyo Fashion Daily, “Sales at Takashimaya are being driven by import brands, luxury timepieces and Takashimaya private brand apparel and accessories.”

Timothy Schepis also states that “If a struggling department store like Takashimaya posts strong profit and sales numbers is this a positive sign for Japan’s economy in whole?”

It could well be that Takashimaya is highlighting the current nature of the Japanese economy which is showing some signs of life. Yet, credit must also be given to the management of this company because recent internal changes have impacted on the current upturn in sales. However, given the nature of fashion and retail alongside the competitive nature of this market in Japan; then clearly nothing can be taken for granted. Therefore, it is hoped that Takashimaya can further consolidate within Japan and internationally in parts of Asia which are being targeted for future expansion.

Modern Tokyo Times images

http://www.tokyofashiondaily.com/2013/04/takashimaya-hits-record-high-for-first.html

http://www.takashimaya-sin.com/

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leejay@moderntokyotimes.com

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Pierre Leblance and Jay Doggett

Modern Tokyo Times

The eurozone and the European Union (EU) continue to go from one crisis to another and clearly the tunnel is long and dark for many citizens throughout the entire community. Latest figures state that 12% of all nationals are unemployed within the eurozone but even this figure masks the growing reality of poorly paid work, short-term contracts and jobs which don’t provide a genuine safety net. Therefore, with several nations struggling to escape severe austerity measures and with little end in sight; then it would appear that greater political and social instability will make further inroads.

Eurostat stated that over 19 million citizens of the eurozone are out of work and clearly this figure is not only alarming but it hides a deep rooted reality. If part-time work, low pay, temporary work and “dead-end jobs” are thrown into the equation; then clearly the democratic and economic structures are failing untold numbers of people.

The gap between member states is also problematic because it is starting to resemble a three tier system. This applies to countries which are still maintaining economic stability and other positive realities despite the economic malaise of the eurozone. For example, unemployment in Austria is 4.8% and in Germany it is a very respectable 5.4%. However, in the third tier are nations like Greece and Spain which have rates of over 26% of people being unemployed. Other nations like the United Kingdom are teetering under severe austerity policies, despite this nation still meddling in foreign nations from a military point of view and providing international assistance to developing nations on a major scale. Therefore, the “reality gap” between political leaders in power and caring about their own citizens is clearly widening in the United Kingdom. Also, past short-term measures related to temporary work and the so-called flexible market now appears like an enormous illusion in this country. After all, the reality appears to be a complete con because cheap labor was the real motive alongside destroying the natural benefits which applied to the past.

Figures released also point in the direction of more negative news for the manufacturing sector. Unemployment rates for eurozone nations and members of the EU differ marginally when it applies to the overall figure. Within the 17 eurozone nations the figure is 12% compared with the EU figure of 10.9% for the 27 member states.

Jennifer McKeon, Capital Economics, stated that “The rise in unemployment was the 22nd in a row, making this labor market downturn the most prolonged since the early 1990s.”

Another brutal dimension to the economic crisis throughout the eurozone and EU is the alarming figures of incredibly high youth unemployment rates in several nations which are blighted by growing poverty. The figure throughout the entire eurozone for young workers is virtually 25%. In nations like Greece and Spain it is hovering around the 50% mark and clearly Cyprus is teetering alongside other nations whereby the entire economic system is in crisis.

Indeed, it is remarkable that social unrest is relatively little when compared to what it could be. Yet clearly with no end in sight and with major economic issues engulfing so many nations, then surely major upheaval is only around the corner for some member states on the periphery. Also, the burden on grandparents and parents for caring for a disenfranchised youth, while having to face major austerity measures, must be putting enormous strains on the family network system.

Japan

In Japan the political elites in this nation have faced over two negative decades whereby economic growth was either marginal to stagnation. Despite this, the unemployment rate is currently 4.2% because the main political parties in this nation are focused on social cohesion and trying to create jobs. Therefore, why is it that Japan can endure over twenty years of mainly negative economic growth and a debt rate which is alarmingly high; yet, the unemployment rate remains within very respectable levels?

It would appear that Japan is a role model for the eurozone and EU which cares little about the rights of workers and providing jobs during bad times when it comes to periphery nations. The government of Japan faced the option of abandoning the “right to work” and disbanding a society based on social cohesion by following the mantra of mass immigration and short-term economic policies in the economic field. However, the political elites chose the people of Japan first despite the difficult road ahead. Sadly, for people in the EU then immediately unemployment rises alarmingly high and other negative forces develop.

Therefore, while the EU and eurozone continues to teeter in some nations the government of Japan appears to be able to overcome many negative realities in order to maintain social cohesion. Of course, you have many negatives within all systems and long hours are a fact of life for many in Japan. However, with such high unemployment in Europe then it would appear that Japan’s political model is based on social cohesion and the “right to work.” Yet the EU model is hitting the poor even harder during difficult times in order to make up for the folly of wealthy elites which caused the mess in the first place. Also, while some nations have already “sold their silver” it is clear that Japan maintains plenty in reserve.

Lee Jay Walker gave support to both main writers

leejay@moderntokyotimes.com

http://moderntokyotimes.com