Reliance, Ryohin Keikaku form retail JV to open Muji stores in India

17 June 2015 (Last Updated June 17th, 2015 18:30)

Reliance Brands, a unit of Mukesh Ambani-led Reliance Industries, has formed a joint venture (JV) with Japanese retailer Ryohin Keikaku.

Reliance Brands, a unit of Mukesh Ambani-led Reliance Industries, has formed a joint venture (JV) with Japanese retailer Ryohin Keikaku.

The JV will open standalone stores under Ryohin’s Muji brand across India.

The proposed Muji stores with store sizes ranging from 6,000-10,000ft2 will sell a wide range of products including clothing for men and women, beauty items, furniture, kitchen tools, stationary, besides many others.

Ryohin Keikaku president Satoru Matsuzaki said: "International expansion is of utmost priority at MUJI and India is our next big Asian market with immense growth potential.

"India’s young, educated and cosmopolitan population gives Muji a ready cache of prospective customers."

Currently, Muji branded products are available in over 700 stores across Japan, Asia, Europe, the USA and Australia.

Muji expanded its brand presence to China in 2005 which is said to the brand’s largest international market.

As of 2014, the brand had more than 100 stores in China.

Ryohin Keikaku plans, develops, manufactures, distributes, and sells clothing, household articles, and food products. It operates café and meal stores, campsites, and online stores.