February 19, 2024, 07:10 PM
The founder of Japanese retail chain Daiso, Hirotake Yano, has died at the age of 80, Japanese media Mainichi reported.
He reportedly died from a heart failure on Feb. 12.
Well-known for offering affordable household and daily necessities, Yano opened the first 100-yen (now S$0.90) shop Daiso in 1991 after establishing a predecessor entity in 1972.
Yano stepped down as president in 2018 and was succeeded by his son, Seiji Yano.
33 stores in Singapore
The budget retailer opened its first overseas franchise in Taiwan in 2001.
Daiso was first introduced in Singapore in 2002, selling its products at S$2 each.
It increased the price of its products from May 1, 2022, stating that it will start charging Goods and Services Tax (GST).
As of the end of 2023, Daiso operated 4,360 stores in Japan and 990 stores overseas, including 33 stores in Singapore.
Top image via Daiso.
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