Friday, October 4, 2013
Miki House Expands Into Russia
MOSCOW (Nikkei)--Miki Shoko Co. opened its first Miki House store in Russia here Thursday, seeking to cultivate the market for upscale children's clothes.
The store is a stand-alone outlet spanning 250 sq. meters, situated on a street in central Moscow. It will offer a wide variety of products boasting advanced technologies and high design from Japan. Down jackets and other items suited for Russia's cold weather will be available as well. The goal is to generate annual sales of 3 million euros, or about 400 million yen.
In Moscow, average monthly income is about 50,000 rubles -- or around 160,000 yen -- double the national average. And thanks to exports of oil and natural gas, the ranks of the very rich are also growing. Hence, European and U.S. name-brand items are selling briskly in the city.
(The Nikkei, Oct. 4 morning edition)