Department store in Nagoya ends 400-year history
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A 400-year-old department store in Nagoya has closed.
Maruei Department Store, which opened as Juichiya kimono shop in 1615 and was renamed in 1943 when it merged with another retailer, was once the largest stores of its kind in Western Japan. It was hit by hard economic times in the early 1990s but was kept operational until sales dropped to an all-time low last year.
Under new ownership since being acquired by Nagoya pharmaceuticals firm Kowa in 2010, the store failed to overcome the rise of e-commerce and became obsolete, with some observers noting a base inconsistency in its various product lineups. Kowa is planning to reopen a commercial facility on the same site several years from now.
Yoshimitsu Hamajima, the president of Maruei Department Store, thanked the crowds of well-wishers who showed up for the grand closing ceremony.
Questions & Answers
Q.When did the department store first open for business?
When did the department store first open for business?
The department store originally opened in 1615 as the Juichiya kimono shop. It operated under this name for centuries before being renamed Maruei Department Store in 1943 after a merger.
Q.What company acquired Maruei Department Store?
What company acquired Maruei Department Store?
Maruei Department Store was acquired in 2010 by Kowa, a pharmaceuticals firm based in Nagoya. Kowa had owned the store for 13 years before its closure this year.
Q.Why did Maruei Department Store close down?
Why did Maruei Department Store close down?
The store's sales dropped to an all-time low last year, following a struggle with the rise of e-commerce. Observers also noted an inconsistency in its product lineups, making it obsolete.
Q.What are the plans for the site where the department store stood?
What are the plans for the site where the department store stood?
Kowa, the owner, plans to reopen a commercial facility on the same site in several years. The specific type of facility or its exact opening date is not mentioned.
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