Matsumoto Kiyoshi finds partner for Taiwan
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Japanese drug and cosmetics store chain company Matsumoto Kiyoshi has taken a step toward entering the Taiwan market.
President Kiyoo Matsumoto has signed a memorandum of understanding with Tai Lung Capital chairman Huang Chiao-chang for the two companies to co-operate on the venture.
Matsumoto Kiyoshi opened its first overseas outlet in Thailand in 2015 and now had 12 stores there.
Matsumoto says Taiwan will become the company’s second overseas investment destination.
“Japan is a favourite destination for Taiwanese travellers, and many of them like shopping in the drug and cosmetics store chains there,” he says.
Huang says Tai Lung has devoted itself for a long time to enhancing economic and cultural exchanges between the two countries. It already distributes Japanese ice cream brand Meiji in Taiwan and jointly runs a miscellaneous goods chain, Hands Tailung.
Established in 1932, Matsumoto Kiyoshi manages more than 1500 stores around Japan.
Questions & Answers
Q.Which company will Matsumoto Kiyoshi partner with for its entry into Taiwan?
Which company will Matsumoto Kiyoshi partner with for its entry into Taiwan?
Matsumoto Kiyoshi will co-operate with Tai Lung Capital for its venture into the Taiwan market. President Kiyoo Matsumoto and Tai Lung Capital chairman Huang Chiao-chang have signed a memorandum of understanding for the partnership.
Q.Why is Matsumoto Kiyoshi interested in the Taiwanese market?
Why is Matsumoto Kiyoshi interested in the Taiwanese market?
Matsumoto Kiyoshi believes Taiwan is a good destination because Taiwanese travellers often visit Japan and enjoy shopping in its drug and cosmetics stores. This existing familiarity is seen as a positive factor for the new venture.
Q.What prior overseas experience does Matsumoto Kiyoshi have?
What prior overseas experience does Matsumoto Kiyoshi have?
Matsumoto Kiyoshi opened its first overseas store in Thailand in 2015 and currently operates 12 stores there. Taiwan will become the company’s second international investment destination after this initial expansion.
Q.What other Japanese brands does Tai Lung Capital distribute in Taiwan?
What other Japanese brands does Tai Lung Capital distribute in Taiwan?
Tai Lung Capital already distributes the Japanese ice cream brand Meiji in Taiwan. The company also jointly runs a miscellaneous goods chain called Hands Tailung, demonstrating its experience with Japanese products.
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