Eyewear-maker Jin Co., which offers low-price glasses under the brand name Jins, aims to expand its business overseas amid a shrinking domestic market, CEO Hitoshi Tanaka said Friday.
“Japan’s market will be shrinking because of low birthrate and aging population. This is why we started going overseas at an early time and are looking at the global market, although this is rare for (Japanese) eyewear makers,” said Tanaka at the Foreign Correspondents’ Club of Japan in Tokyo.
Jin, which had 292 stores in Japan as of November, entered the Chinese market in 2010 and now has 60 stores there. The firm opened its first U.S. store in San Francisco in August and is looking to enter other regions such as Europe.
Tanaka said that although the domestic market will shrink, Jin still planned to increase the number of stores in Japan to 500 from the current 292.
Jin’s glasses fall under the lowest price category in the Japanese market, and Tanaka is hoping for a similar market segment in the U.S. and Europe.
In China and other emerging countries, where prices tend to be either very cheap or very expensive, Jin’s products will be positioned in the middle, he said.
source by japantimes