CapitaMalls Asia collaborates with PARCO

The proposed collaborations include tapping on PARCO's network to bring Japanese retailers to China.

According to CapitaMalls, CapitaMalls Asia and PARCO will also explore new investment opportunities in Japan. CapitaMalls Asia, which has seven shopping malls in Japan, will be able to tap on PARCO’s extensive network to identify new opportunities to grow its business in Japan.

Mr Lim Beng Chee, CEO of CapitaMalls Asia, said, “Japan has more than 1,000 retailers who are at the forefront of shopping concepts, and many established retailers who want to expand their business in Asia. Our shoppers are familiar with well-known brands such as MUJI, UNIQLO, Watami, Daiso, Best Denki and Samantha Thavasa, which we have introduced to our malls successfully in Singapore and China. There are still many more Japanese retailers that we have yet to introduce in our malls in Asia. This win-win collaboration will accelerate our initiative to introduce more of these new concepts in the region, thus enhancing the overall shopping experience in our malls. At the same time, PARCO’s network of tenants will have the opportunity to grow their business in the 92 malls that we currently own and manage in Asia.”

“Our first collaboration will be to bring PARCO’s network of tenants to participate in the CapitaMalls Asia Retailers’ Forum in Chengdu next month. At this forum, retailers from all over China, Singapore, Malaysia and Japan will be introduced to business opportunities to grow their business in China and interact with their fellow retailers from these countries. CapitaMalls Asia currently has a portfolio of 53 shopping malls in 34 cities in China.”

Mr Hidekazu Hirano, President of PARCO, said, “CapitaMalls Asia is the leading shopping mall developer, owner and manager in Asia. This collaboration with CapitaMalls Asia is in line with PARCO’s medium-term business plan, which includes expanding to overseas markets outside Japan. It will add value to our network of retailers, many of whom are keen to go to China. We have known CapitaMalls Asia since 1995, when we were both shareholders in PARCO Bugis Junction. We believe that CapitaMalls Asia is one of the best partners to work with in Asia as there are potential synergies that we can realise between our two companies.”