SINGAPORE: Retail company Muji will slash prices on 40 per cent of its products – but only for stores in Japan.
Muji Singapore confirmed this with Channel NewsAsia on Wednesday (Nov 15), following a Nikkei Asian Review report on Tuesday which said the store's largest-ever markdown will take place in January.
Around 2,400 products, the majority of which are household goods, will see their prices reduced by up to 14 per cent, the report said.
The prices of Muji's best-selling mattresses are expected to fall from ¥35,000 (US$308) to ¥29,000, the Nikkei said. The company will save on production costs by standardising legs for mattresses and sofas, among other measures, the report added.
Also earmarked for reductions are laptop bags, socks, curry and tea products.
Parent company Ryohin Keikaku has been opening a net 50 to 60 Muji stores a year, said the report. It now operates about 850 stores in total, most of them outside Japan.
In Southeast Asia, Muji has outlets in Singapore, Philippines, Indonesia, Malaysia and Thailand. It has 14 stores in Singapore alone, and opened the region's first flagship store at Plaza Singapura in July.
The Nikkei said the expanded sales volume has helped Muji reduce procurement costs. A logistics overhaul and simplified packaging have also helped cut costs.