Retail News

Japanese retailer in business for 1,020 years and counting

The New York Times 12/02/2020

Ichiwa is a family-owned Mochi business in Kyoto, Japan, that was started more than 1,000 years ago. The shop has succeeded by sticking to tradition, despite such challenges as natural disasters and wars. “If you look at the economics textbooks, enterprises are supposed to be maximizing profits, scaling up their size, market share and growth rate. But these companies’ operating principles are completely different,” said Kenji Matsuoka, a professor emeritus of Ryukoku University. “Their No. 1 priority is carrying on. Each generation is like a runner in a relay race. What’s important is passing the baton.”

MORE ON THIS STORY...

MORE RETAIL NEWS HEADLINES...

Discussions
Check out RetailWire's Engaging Online Discussions Featuring Our Exclusive Braintrust!