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HONG KONG — Japanese furniture company Nitori Holdings plans to open 20 outlets in Hong Kong by 2032, starting with the first such store opening on Friday.
Nitori already holds 75 locations in mainland China, and the company seeks to lift that to 100 outlets by the end of the year. Although China is undergoing a housing slump, “a downturn is an opportunity,” Masanori Takeda, Nitori’s director in charge of global sales promotion, told Nikkei. “Consumers will exhibit stronger preference for affordable products that are of good quality.”
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