Japanese retailer Muji set to enter Vietnam

The company would first establish its subsidiary Muji Vietnam, headquartered in HCMC, next August, its parent company, Ryohin Keikaku, said. 

The first store is planned for spring 2020 in HCMC.

Ryohin Keikaku said in a statement: "Vietnam has the third largest in population and is undergoing rapid economic development. We see this as a key market in the Southeast Asia, with 7.1 percent GDP growth in 2018.

"We expect that our experience and know-how in the global market would help in running stores that serve  everyday living and increase Muji fans in the area." 

Muji is known around the world for its wide range of homeware and consumer products at affordable prices ranging from furniture to clothing and even cosmetics. 

It has 928 stores around the world, including 454 in Japan.