Nitori considering potential M&A to enter the Japanese apparel market

Nitori Holdings Co. is considering buying an apparel chain in Japan. The homeware retailer is reportedly looking into entering the fashion and apparel market as “There isn’t enough choice now for shoppers.”

Akio Nitori, CEO at the eponymous company, said in an interview Wednesday that although nothing specific has been decided, “If we’re going to get into apparel, M&A’s probably the best way to do it.” He further explained that “There isn’t enough choice now for shoppers. If you go to a shopping centre, it’s all clothes for young people and not a lot for the middle-aged at a reasonable price.”

According to Bloomberg, if Nitori Holdings finally decided to get into the fashion market, they’d look for a company with 100 to 200 stores. The home furnishings firm’s CEO added that cash from operations has been increasing by as much as 30 billion yen (around 266 million dollars) a year.

Nitori is contemplating a bet on clothing for older shoppers in a country where people over 60-years-old make up about a third of the population while accounting for almost half of consumer spending, informs Bloomberg.