亚洲品牌加速进驻东京黄金商圈，四大购物区临街铺空置率近零、租金创新高

TOKYO -- Asian brands are becoming more visible in major commercial areas in Tokyo as they open flagship stores in ritzy areas to highlight their value around the world. The entry of new tenants is making prime retail space more scarce in Japan's capital.
Shinjuku joined the Ginza and Shibuya shopping districts in having a 0% vacancy rate for roadside stores in the April-June period, according to a survey by global real estate service provider CBRE. The rate in the Omotesando-Harajuku district, the last of Tokyo's four major shopping areas, fell to 0.1% for the quarter.
There have been almost no vacancies in the four districts as retail space has long been occupied by Japanese, European and American luxury fashion and sports brands. Now Asian brands are opening more stand-alone stores, adding to the scarcity.
Matin Kim, a South Korean fashion brand operated by e-commerce platform Hagohaus, opened a stand-alone store in Harajuku in April, aiming to attract more fans and raise its name recognition. It decided to open the shop after receiving a favorable reaction from customers to pop-up shops it set up previously.
Matin Kim took roughly a year to open its new outlet after laying out its plans. "Competition is extremely intense, as properties find tenants immediately after they are put on the market," an official in charge said, adding, "Securing an appropriate property was the biggest challenge for us."
Thai fragrance brand Panpuri, which operates under Japanese cosmetics maker Kose Holdings, opened a flagship store in Aoyama in August. Customers can make perfume blends from their favorite scents at the shop. Later this month, Panpuri will open a spa on the second floor.
"We have 31 stores in Thailand, and the [Aoyama] flagship store plays an important role in creating the global vision of our brand, and making it known in Japan," said Hiroshi Sugizaki, representative director and CEO of Panpuri Japan.
Gentle Monster, a South Korean eyewear brand, operates in prime locations in Tokyo, opening a streetside store in Ginza in August last year, its second after opening a shop in Aoyama in 2024.
The Omotesando-Harajuku district is especially popular with Asian brands, possibly because it attracts not only Japanese customers but also international tourists. It is known as a trendy location.
Rents have kept rising in prestigious locations due to the scarcity of vacant street stores and intense competition for space among Japanese and international labels.
In the April-June quarter, average contract rents, estimated by CBRE, reached record highs in Ginza, Omotesando-Harajuku and Shibuya. In Ginza, the average monthly rent was 298,000 yen ($1,881) per 3.3 square meters, up 0.7% on the year. In Omotesando-Harajuku, it was 256,000 yen, up 1.6%, and in Shibuya it was 187,000 yen, up 2.7%. The figure in Shinjuku rose 2% on the year to 187,000 yen.
"In major areas, there are cases where contract rents rise above asking rents," said Tatsuya Sugita, who oversees retail leasing at U.S.-based real estate service Jones Lang LaSalle (JLL). Asking rents are the initial rental price advertised by property owners, while contract rents are the actual amount agreed upon.
Asian brands remain eager to move into new areas as they expect to grow by opening more brick-and-mortar stores, he said. According to a CBRE survey, Asian brands accounted for 17.5% of all companies that expressed a desire as of June to open roadside stores within a year in major cities across Japan -- up from 9.3% in June 2025.
"Upward trends on rents are likely to become stronger as the supply and demand crunch will continue now that more brands are willing to open stores," said Asuka Honda, a director at CBRE.