On June 30th, Isetan in Shanghai’s Westgate Mall announced its official closure, leaving Tianjin R&F Isetan as the only remaining Isetan store in China. Isetan in Shanghai was the second store in Shanghai invested by Japan’s Isetan Company, following the Huating Isetan.
Public information shows that in 1997, Meilong Town Plaza made its debut on Nanjing West Road in Shanghai. For a long time, Meilong Town Plaza, along with CITIC Pacific, Plaza 66, and Shanghai Centre, formed the strongest skyline in Jing’an District. This marks the end of Meilong Town Isetan’s 27 years of operation in China.
In March this year, Isetan Department Store in Shanghai’s Westgate Mall announced that the store would cease operations due to the expiration of its lease.
It is worth mentioning that in 2016, Mitsukoshi Isetan also opened the ISETAN BEAUTY cosmetics store in Shanghai. This was Mitsukoshi Isetan’s first beauty flagship store in China and a new attempt in the Chinese market. The store featured over 100 brands of international top cosmetics, niche imported brands, and indoor fragrances. However, this store also closed in September 2019.
According to media reports, from March to November 2023, the operating loss of Isetan in Shanghai’s Westgate Mall was 376 million yen ($2.34 million), compared to a loss of 266 million yen ($1.65 million) in the same period last year.
