Isetan leaving Thailand

Japanese department-store chain Isetan will quit Thailand later this year after 28 years operating in Bangkok.

The company says it will not renew the lease of its space in the CentralWorld shopping center when it comes up for renewal in August.

However, Isetan and CentralWorld’s owner Central Pattana may discuss a plan for the Japanese restaurant zone on the top floor, in which Isetan tenants operate effectively as concessions.

The Isetan department store opened at CentralWorld back in 1992 when it was called the mall was called World Trade Center.

The last major renovation of the space opened in December 2015, a food concept called Washoku Gallery.

In keeping with the department store’s heritage, the gallery features food products imported from Japan. The company said at the time that Japanese food and culture is broadly liked by Thailand’s urban consumers and Isetan wanted to tap into that growing demand.