The operator of Japanese lifestyle brand Muji will cut prices on 40 per cent of its goods, the Nikkei Asian Review reported on Tuesday (Nov 14).
Muji's parent company Ryohin Keikaku will reduce prices on some 2,400 items including furniture, clothing and food, the Japanese financial news site reported.
It is unclear whether the price markdowns apply only to Japan or to its multiple stores across Europe, North America and the Asia Pacific.
Prices are set to be reduced by as much as 14 per cent, with a 35,000 yen (S$419) best-selling mattress going for 29,900 yen.
Other items that will have their prices slashed include laptop computer bags, sock packs, curry and tea products.
The company is transferring to customers its cost savings from standardising production and expanded sales volumes that helped reduce procurement costs.
Ryohin Keikaku has been opening a net 50 to 60 Muji stores a year, with about 850 in total, the Nikkei Asian Review said.
It opened its first flagship store in South-east Asia in Plaza Singapura in July this year.
Here's a quick walk-through of the store:
Since the no-frills label opened its first store here in 2003, Singapore has been the best-performing market of all South-east Asian countries, The Straits Times previously reported.
Written by Lydia Lam for The Straits Times