Primo Japan announces the grand opening on May 1st (Saturday), of our I-PRIMO Yonago Shinmachi Tenmaya store in Yonago Shinmachi Tenmaya, a large shopping mall in Yonago City, Tottori Prefecture. With this Yonago store opening, we becomes the first company in the bridal jewelry industry to open stores in all 47 prefectures in Japan.

◆Increasing market share by expanding into underserved areas and establishing a sales network covering all 47 prefectures

The Yonago-Matsue area, a commercial region located where Tottori and Shimane Prefectures meet, is an area with approximately 2,700 marrying couples (※1), with approximately 2% market share (※2) from stores in nearby areas including Hiroshima and Okayama, in spite of the fact that we have not previously expanded into the area. Situated at the center of both prefectures in the San-in region, Yonago City is also the main city in the Yonago metropolitan area, with a population of approximately 230,000 people, so we have determined that this location can attract a large number of customers. In recent years, Primo Japan has been aggressively relocating and renovating our stores throughout Japan, and opening new stores overseas, mainly in Asia, to promote the expansion and market penetration of the I-PRIMO brand. In 2020, with new store openings in Shiga Prefecture, another previously underserved area, we managed to increase percentage market share in the prefecture, and by opening a store in Tottori Prefecture this time, expanding to cover the Chugoku region, we aim to further increase percentage market share. In addition, with this store opening, we will become the first bridal jewelry specialty store in Japan to conquer all 47 prefectures, becoming a national chain, which will further improve our brand value.

◆Selecting Bridal Jewelry for the Memories of a Lifetime in a Spacious Store Interior

The newly opening Yonago Shinmachi Tenmaya store is located in a department store that boasts the ability to attract large numbers of customers. The department store’s location is easily accessible from highways and major roads thanks to its location at the intersection of National Route 9 and Prefectural Route 317 and Route 207. Our bridal jewelry competitors and wedding venues are concentrated in the nearby surrounding area, and we expect sales from customers browsing and shopping around for bridal jewelry. Inside the spacious store, we have installed private booths that reflect the wishes of our customers, to create a calm customer service space suited to making the purchase of a lifetime. 

 

※1: From the Ministry of Health, Labor and Welfare 2019 Vital Statistics Report
※2: Calculated by our company based on the number of actual purchases made by customers living in the Yonago-Matsue area divided by the number of marrying couples in the area.