Popular Japanese value retailer Daiso is aiming to make a splash in India. The company, known for its wide variety of affordable household goods, is planning to significantly expand its presence in the country.
Currently, Daiso has only eight stores in India. However, the company has ambitious plans to increase that number to 100 stores in the next 3-4 years. To achieve this, Daiso is looking to set up production facilities in India. This would not only serve the Indian market but also allow them to export goods globally, supporting India’s “Make in India” initiative.
“We have plans to set up our manufacturing facilities here in India to produce products not only for the Indian market but for the world and export worldwide from here,” said Yoshihiro Hiramoto, a representative from Daiso’s Global President’s Office.
Currently, 90% of Daiso products are manufactured in-house at facilities located in China and ASEAN countries. Sourcing from India is minimal at less than 1%. Local production would help Daiso reduce costs associated with import and potentially cater to specific Indian consumer preferences.
This move by Daiso reflects the growing importance of the Indian market for international retailers. India’s large and growing population, coupled with a rising middle class, makes it an attractive destination for businesses looking to expand.
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