Ito Yokado to restructure its business in China

Japanese retail chain Ito Yokado plans to restructure its business in China, and its comprehensive department store in Beijing is expected to be transformed into a food supermarket, as department stores continue to adjust their business models at a time when online shopping has changed the shopping habits of Chinese consumers.

Ito Yokado said it would like to improve the profitability of its China business, including closing two department stores that suffered losses in Chengdu, Sichuan province. The company also plans to open a new mall in 2028 in Chengdu where middle-income and well-off people congregate, with offerings of high-quality products, Japanese news media outlet Nikkei reported.

Meanwhile, its department store in Chaoyang district of Beijing will be transformed into a food supermarket. The venue has changed its name to Hua Tang Xin Chen Life, and is jointly operated by Beijing Xinchen Commercial Group and Ito Yokado's joint venture in Beijing.