Ryohin Keikaku Co., operator of the Muji brand household goods chain, will set up a joint venture in India in fiscal 2015 to enter that market of 1.2 billion consumers, a source said Monday.
The Tokyo-based company plans to open the first outlet in a major Indian city in 2016 and then build and expand a sales network.
The company plans to offer a similar product lineup in India to what it sells in Japan.
Manufacturers such as Suzuki Motor Corp. have been aggressive in launching businesses in the emerging market, which has been easing its strict regulations that protect local companies.
With India pushing ahead with deregulation to spark economic growth, Fast Retailing Co., the company behind the casual clothing chain Uniqlo, is considering entering the country’s clothing retail market, following Spain’s Inditex SA, which is already operating its Zara brand stores there.