Website: www.itoyokado.co.jp
Ito-Yokado is a leading brand in the Japanese retail industry, with a history dating back to 1920 when it was known as Ito-Yokado Western Goods Store. This retail giant is not only the parent company of the globally renowned convenience store brand 7-Eleven, but has also undergone several major transformations and expansions throughout its development.
In 1920, the predecessor of Ito-Yokado, Yokado Department Store, was established in Japan, marking the birth of this retail giant. Over time, Yokado Department Store gradually grew and expanded, and in 1974, it officially changed its name to Ito-Yokado. This name has been used ever since, making it a well-known brand in the Japanese retail industry.
Ito-Yokado's development has not been without its challenges. In the 1970s and 80s, with Japan's rapid economic growth, Ito-Yokado faced fierce competition from both domestic and international rivals. To address these challenges, Ito-Yokado began a series of strategic adjustments and reforms.
In 1973, Ito-Yokado partnered with Southland Corporation of the United States to introduce 7-Eleven convenience stores to Japan. This move not only brought new growth to Ito-Yokado but also provided Japanese consumers with a more convenient shopping experience. Since then, Ito-Yokado has continuously expanded the number of 7-Eleven stores in Japan, making it one of the most popular convenience store brands in the country.
In addition to its convenience store business, Ito-Yokado has expanded into other areas. In 1982, Ito-Yokado opened Japan's first large-scale shopping center—Ito-Yokado Shopping Center. This innovative move brought a new direction to the Japanese retail industry and brought more customers and revenue to Ito-Yokado.
Entering the 21st century, Ito-Yokado continued its strong growth momentum. On September 1, 2005, Ito-Yokado established a new holding company—Seven & I Holdings. On December 26 of the same year, Seven & I Holdings acquired a controlling stake in Millennium Retailing Inc., which also owns Sogo and Seibu department stores in Japan, for US$2 billion. This acquisition made Ito-Yokado the largest retailer in Japan and the fifth largest globally.
In 2011, Ito-Yokado ranked 131st on the Fortune Global 500 list, once again demonstrating its strong presence in the international retail market. Today, Ito-Yokado has numerous stores and subsidiaries worldwide, providing consumers with a wide variety of products and services.
Ito-Yokado's success stems from its continuous innovation and ability to adapt to market changes. Whether in the convenience store business or other sectors such as shopping malls, Ito-Yokado accurately grasps consumer needs and psychology, launching new products and services that meet market demands. At the same time, Ito-Yokado emphasizes building strong relationships with suppliers and partners, achieving sustainable development through mutually beneficial collaborations.
In short, Ito-Yokado is a legendary brand in the Japanese retail industry. From its humble beginnings as the Ito-Yokado Western-style store in 1920 to its current status as a global retail giant, Ito-Yokado has weathered countless challenges and opportunities. However, through its spirit of continuous innovation and adaptation to market changes, Ito-Yokado has consistently maintained its leading position in the retail market and continues to provide consumers with a superior shopping experience.
