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Sogo

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Sogo Kobe Department Store

Sogo Co., Ltd. (Japanese: 株式会社そごう; Chinese: 崇光百貨有限公司) is a department store chain that operates an extensive network of branches in Japan. It once owned stores in locations as diverse as Beijing, Hong Kong, Jakarta, Singapore, London, Taipei, Kuala Lumpur, and Bangkok, but most of these international branches are now operated by independent franchises.

History

Sogo Hachioji Department Store, Hachiōji, Tokyo

Sogo was founded in 1830 in Osaka by Ihei Sogo as a retailer of used kimono.

In July 2000, the company faced financial troubles cause by the reckless real estate investment policy of the former Chairman, Hiroo Mizushima, and the collapse of Japanese real estate prices since the mid 1980s. The group collapsed under a debt mountain of US$100 million, owed principally to Industrial Bank of Japan[1]. Sogo applied to Osaka District Court under the Civil Rehabilitation Law on July 12, 2000. It has had to divest itself of unprofitable business lines, as well as valuable assets such as several stores in Japan (eg. Kokura and Kurosaki) and some overseas stores, including stores in Singapore and Hong Kong.

Other overseas Sogo stores survived under independent franchises, through which the Japanese company has also managed to raise capital.

In Japan, Sogo is now a subsidiary of Millennium Retailing.

China

Sogo also has two main stores in Beijing. The store located in Beijing's southern district is one of the largest and most prestigious department stores in the city.

In 2004, Jiuguang Department Store in Shanghai was opened as a joint venture between Lifestyle International Holdings of Hong Kong (owner of the Hong Kong SOGO) and the state owned Joinbuy Group of Shanghai. The Department Store is located in the fashionable Jin'an District adjacent to the Jin'an Temple, on West Nanjing Road. The store operation is a clone of the SOGO in Hong Kong including the high-end supermarket Freshmart and Beaute @ Jiuguang (instead of Beaute @ Sogo). The store also brought in some very exclusive designers, a lot of which had their first counter in China or Asia such as Thomas Pink and Jean Paul Gaultier.

Hong Kong

The Causeway Bay store on Hong Kong Island, also known colloquially as "Jumbo Sogo", opened in 1980.

Following Sogo Group's collapse, the business of Sogo Hong Kong, including the 40,500 square meter retail property located in Causeway Bay, was sold for US$453.6 million to two local businessmen Thomas Lau of Chinese Estates and Henry Cheng of Chow Tai Fook Enterprises when the Japanese Sogo went bankrupt[2]. They took Sogo public by injecting this asset into Lifestyle International in 2004.

Sogo Hong Kong Co. Ltd, the Sogo franchisee, now operates one additional store in Tsim Sha Tsui, which opened on September 30, 2005, marking the 25th anniversary of Sogo in Hong Kong. The Causeway Bay store has had an extension built, and which opened in November 22, 1993, and carries items in all product categories within a 15 story building. It recently opened the Sogo Club and Sogo Book club as well as a new annex building named Beauté by Sogo. The Tsim Sha Tsui branch focuses on designer fashions.

Indonesia

Targeting the upper class market, Sogo department store in Indonesia operates under PT. Mitra Adiperkasa Tbk. and is currently the largest Sogo franchisee with a total of nine department stores. All stores are located at high-end shopping malls in Plaza Senayan, Pondok Indah Mall 2 and Mal Kelapa Gading 3 in Jakarta; Tunjungan Plaza 4 and Mall Galaxy Extension in Surabaya; Bali Collection and Discovery Shopping Mall in Bali; Sun Plaza in Medan; and Paris van Java in Bandung.

All stores feature an international market targeted Sogo Supermarket except in Bali Collection and Discovery Shopping Centre. The company introduces a new supermarket concept store named Sogo The Foodhall. The new concept store first open opened in conjunction with the opening of Pondok Indah Mall 2 store in 2005. Currently, Sogo The Foodhall are also located in Senayan City as part of Debenhams department store and Plaza Indonesia.

Most Sogo department store in Indonesia houses Planet Sports and Kidz Station. All stores in Jakarta also houses Chaterbox Cafe. Indonesia's largest international book store, Books Kinokuniya is housed at the upper level of Plaza Senayan flagship store. Two Starbucks Coffee are also located at upper and lower level of the store.

First opened in 1990, Sogo is first located at Plaza Indonesia. However, the store is closed in February 2006, exactly seventeen years after its opening while it retain its Sogo Supermarket before being redeveloped into Sogo the Food Hall. Both he flagship store and management office is moved to Plaza Senayan, which is currently the largest Sogo in Indonesia with over six levels of shopping.

The same company will soon houses Seibu, another department store of Millenium Retailing Group, across the road from the previously located Sogo Plaza Indonesia at Grand Indonesia, the largest upper scale shopping mall in South East Asia.

Singapore

Once located at one of the most busiest and strategic shopping centre, Raffles City, the Singapore flagship store have been closed in 2003 due to the bankcrupcy of Sogo Japan. The space have since been occupied by Singapore's Robinsons.

Taiwan

In Taiwan, as a subsidiary of Far East Group, Pacific Sogo operates seventeen stores: eight in Taiwan and nine in China: three in Shanghai, one in Beijing, two in Chengdu, two in Chongqing and one in Dalian as of August 2007[3].

Pacific Sogo recently found itself in the midst of a corruption scandal over gift certificates involving the family of Republic of China President Chen Shui-Bian; thought it was later cleared.[4]

References

  1. ^ "Former Chairman Held Responsible For Japanese Retailer's $17 Billion Debts". BBC World Service. July 27, 2000. Retrieved 2007-03-23.
  2. ^ "H.K. tycoons to buy H.K. Sogo's prime site, store". Asian Economic News. Jan 8, 2001. Retrieved 2007-03-23.
  3. ^ "Sogo Taiwan". Retrieved 2007-08-12.
  4. ^ "Taiwan's Chen in corruption case". BBC News. November 3, 2006. Retrieved 2007-08-12.

See also

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