Services India Market By industry Case Studies Trade Shows Insights News Company Download Materials

Takashimaya to open its first Hanoi store in 2026 — bringing "Japanese quality" to northern Vietnam in its first overseas opening in 8 years

2026.03.26

Article summary

Japan's long-established department store Takashimaya plans to open its first Hanoi store in 2026, its first new overseas store in 8 years since entering Ho Chi Minh City in 2016. Its subsidiary Toshin Development will build a mixed-use facility, with the department store section covering about 10,000 square meters and an investment of about JPY 2 billion (about USD 12.9 million). The goal is to double operating profit and dividend income from its Vietnam business to JPY 4.4 billion by the fiscal year ending February 2027.

This article is based on what we could verify As of August 1, 2026 This article is based on public materials and news reports from Vietnam. Vietnam's tax system, regulations, and administrative divisions change frequently, so information here may have been updated since publication. For actual business decisions, please confirm the latest details with the relevant government authorities or local experts as primary sources.

Japan's long-established department store Takashimaya is moving ahead with plans to open its first Hanoi store in 2026. This will be its first new overseas store in 8 years since entering Ho Chi Minh City in 2016, and its strategy of concentrating Japanese brands in a mixed-use facility with about 10,000 square meters of retail space is drawing attention.

What is happening

Takashimaya's subsidiary Toshin Development is building a mixed-use facility in Hanoi, a large-scale development that will include, alongside the department store (about 10,000 sqm), residential, office, and commercial space. The investment for the department store portion alone is expected to be about JPY 2 billion (about USD 12.9 million). Takashimaya aims to double operating profit and dividend income from its Vietnam business to about JPY 4.4 billion by the fiscal year ending February 2027, and the Hanoi opening is central to that growth strategy. No Japanese department store chain currently exists in Hanoi, making Takashimaya a pioneer. It is considering attracting Japanese-affiliated tenants centered on food, cosmetics, and children's clothing.

Why this is worth watching

Northern Vietnam's Hanoi has lagged behind Ho Chi Minh City in the entry of Japanese retail and dining, leaving significant room in the market. Vietnam's GDP growth rate has stayed in the 6-7% range for the past several years, and as the middle class expands, demand for "made in Japan" products is rising. Gen Z in particular tends to place strong emphasis on quality and origin, guided by word of mouth on social media, and authenticity-focused Japanese brands are gaining support. Takashimaya's entry into Hanoi is likely to create store openings for Japanese-affiliated tenants in food, cosmetics, and children's clothing.

What Japanese companies can learn

1) Consider opening a tenant store at Takashimaya Hanoi — early contact is especially effective for food, cosmetics, and lifestyle brands. 2) For Hanoi's Gen Z and millennial consumers, the key is product presentation that combines "clearly stated origin" with "social-media appeal." Making "being made in Japan" visible is the most effective way to differentiate from Chinese- and Korean-made products. 3) Northern Vietnam has lower e-commerce penetration than Ho Chi Minh City, giving relatively more value to in-store experience. Now is the time to capture a first-mover advantage.