Japan’s largest eyeglass retailer Meganetop opens 1st overseas shop in Taiwan

23, Mar. 2020

Megane Ichiba outlet opens at Uni-President Department Store Taipei in the central business district of the city on March 20, 2020. (Photo courtesy of Meganetop Co.)
Megane Ichiba outlet opens at Uni-President Department Store Taipei in the central business district of the city on March 20, 2020. (Photo courtesy of Meganetop Co.)

TAIPEI, NNA – Japan’s leading eyeglass retail chain operator Meganetop Co. has launched its first overseas outlet in Taiwan as the first step toward global expansion.

Its mainstay brand Megane Ichiba outlet opened Friday at Uni-President Department Store Taipei in the central business district of the city, it said in a statement on Friday.

The company entered the Japan-savvy market first as it found through market research that consumers are not satisfied with unclear price structures for eyewears at stores run by local rivals, such as extra charges on thick spectacles, special lens and other services, a Meganetop official in Taiwan told NNA by email on Monday.

The 83-square-meter Megane Ichiba outlet offers more than 30 types of glasses at clearly stated prices in a range from 3,490 New Taiwan dollars ($115) to over NT$10,000 for lens and frames without extra fees except for some high-performance lens, according to the official.

The Japanese firm will open five shops at local department stores such as SOGO and Far Eastern in the northern part of the island by mid-April.

It plans to open 15 to 20 shops in Taiwan this year and aims to increase the number to 80 to 100 in five years, the statement said.

For the Taiwan shoppers, more than 90 percent of frames available at stores on the island are Japan-made products, compared to 80 percent for the Japanese market, the official said.

Meganetop operates a plant in Japan’s Sabae City, one of the longest-standing eyeglass production bases in the world, in addition to other factories at home and in South Korea and China, enabling it to swiftly respond to market needs and collaborate with major players in the industry, the official said.

“We are focused on success in the Taiwan market now,” said the official when asked about the firm’s future expansion plan.

Meganetop, founded in the central Japanese prefecture of Shizuoka in 1980, runs 969 shops in Japan with annual sales of 77.1 billion yen ($702 million) as of March 2019, according to the company website.