Watami to withdraw from China Sales drop due to spread of virus infection February 5 11:49
Watami, a major izakaya chain, withdraws from China by spring, saying that sales of izakaya operating in China have fallen sharply due to the spread of the new coronavirus and that there is no prospect of a recovery in consumption in the future became.
Watami entered the Chinese market in 2005 and had 42 izakayas in 2014, but has shrunk due to sluggish sales and currently operates seven stores in Shanghai and Guangzhou.
According to the company, the spread of new coronavirus infections has greatly reduced the number of customers in China, and sales have recently dropped to less than 10%.
The company has decided to withdraw from all seven stores operating in China by spring, saying that there is a concern that the situation will subside and that the effects will continue for a long time and personal consumption will further decline.