Sogo & Seibu
Sogo & Seibu Co., Ltd. (株式会社そごう・西武, Kabushiki-gaisha Sogou & Seibu) is a Japanese retail company that operates two department stores: Sogo, and Seibu.
 | |
 Seibu Department Store in Ikebukuro, Tokyo | |
| Type | Subsidiary |
|---|---|
| Industry | Retail |
| Founded | 2009 (from merger) |
| Headquarters | Nibancho, Chiyoda, Tokyo, Japan |
Number of locations | 10 (2023) |
| Services | Department stores |
| Parent |
|
| Subsidiaries | Shell Garden Co., Ltd. (10%) |
| Website | Official website |
Sale to Fortress
When it was announced that Seven & I Holdings Co. would sell Sogo & Seibu to the company in November 2022, Fortress Investment Group (FIG) said this would allow it to introduce Yodobashi Camera locations into the department store chains stores.[1] On August 31, 2023, it was reported that the company would be sold to Fortress in a deal valued at JP¥220 billion.[2]
The announcement of the sale led to around 900 employees striking and the closure of the Seibu Ikebukuro flagship on August 31st.[3] The strike was the first major department store strike in Japan since the 1960s.[4]
On September 1, 2023, Seven & I Holdings Co. announced that it has completed the sale of the Japanese company to FIG.[5]
See also
References
- "Seven-Eleven parent to sell Sogo & Seibu stores to U.S. fund". The Japan Times. 2022-11-11. Retrieved 2023-09-02.
- "Japan's Sogo & Seibu department stores are being sold to a US fund as 900 workers go on strike". AP News. 2023-08-31. Retrieved 2023-09-02.
- Negate, Kazuki; Exum, Anika Osaki (2023-08-31). "Sogo & Seibu labor union begins strike at flagship Ikebukuro store". The Japan Times. Retrieved 2023-09-02.
- "Strike at Tokyo department store fails to stop sale of Sogo-Seibu | The Asahi Shimbun: Breaking News, Japan News and Analysis". The Asahi Shimbun. Retrieved 2023-09-02.
- "Sale of Sogo & Seibu completed Friday". NHK. Retrieved 2023-09-13.
