Word: seibu
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...introduced such techniques as international telephone hookups, bidding by closed-circuit TV, the gala evening sale crammed with formally clad celebrities, assiduous ballyhoo and greatly increased sale schedules. More recently, Sotheby's pushed its mass-marketing strategy even further by signing an agreement with Tokyo's Seibu Department Stores Ltd., which brings the Western fine arts auction market into retail stores and enables Japanese buyers to place bids for, say, an over-the-counter Constable. When Wilson retires as Sotheby's chairman in February, he will be succeeded by his cousin, the Earl of Westmorland...
That's not all. South of Wailea, Seibu Hawaii Inc., a Japanese company, is building a six-story, 300-room hotel on 1,000 acres-with a golf course, of course. Within the Kaanapali complex, a Hyatt Regency, now half-built, will open in 1980. The $80 million, triple-towered, 820-room hotel, the biggest single construction project in Hawaiian history, will feature, among other things, a mini-Niagara surging through a lobby the size of three football fields...
Even in Los Angeles-the city of gala premières for everything from Hollywood spectaculars to hamburger stands-the "grand opening'' last week of the U.S.'s first big Japanese-owned department store created quite a splash. Within 15 minutes after Seibu of Los Angeles unlocked its door, 5,000 shoppers were inside, women were fainting, policemen had to bar all entrances to slow down the rush and traffic was backed up for four blocks along Wilshire Boulevard. By day's end Seibu's clerks had been buffeted by 40,000 Angelenos, who bought...
Owned by Japan's billion dollar Seibu Industries, whose holdings include Tokyo's fastest growing department store, a railroad and 36 hotels, Seibu of Los Angeles is the latest pet project of Seibu Chairman Yasujiro Tsutsumi, 74. During a 1959 visit to the U.S., Tsutsumi was shocked at the low quality of the Japanese products that he saw in well-to-do American homes. Convinced that there was a large unexploited market for Japan's wide range of quality merchandise, he decided that the way to tap it was not through specialty stores (such as Manhattan...
...pull off this daring gamble-which so far has cost Seibu $8,000,000-Tsutsumi is relying on a retailing formula that blends East and West. Housed in a block-long, four-story building with just touches of Japanese decor-a cluster of lanterns, an occasional screen and a few Nisei girls in geisha costume-Seibu of Los Angeles is essentially an American store with all the usual U.S. retailing gimmicks, including a two-deck parking garage and a roof-garden restaurant with bar. Its merchandise is predominantly Western-styled, and only 60% of it is made in Japan...