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MarketScreener Homepage  >  Equities  >  Tokyo  >  Parco Co.,Ltd.    8251   JP3781800002

PARCO CO.,LTD.

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Parco : Unique "Next Generation Commercial Facility" SHIBUYAPARCO to Open on 22nd November!

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10/09/2019 | 08:26am EST

PRESS RELEASE

June 18, 2019

PARCO CO.,LTD.

Unique "Next Generation Commercial Facility"

SHIBUYAPARCO to Open on 22nd November!

PARCO Co., Ltd. (HQ: Shibuya, Tokyo, President and Representative Executive Officer: Kozo Makiyama, hereafter PARCO) will be holding the grand opening for "SHIBUYA PARCO" on 22nd November, 2019.

A Fiftieth Anniversary and a New PARCO

SHIBIYAPARCO first opened in 1973 in an effort to contribute to "business incubation," "urban revitalization," and "trends communication." In so doing it sought to both stimulate the city of Shibuya, and be stimulated by it, furthering its overall development. These three areas are the DNA of our company. They are our starting point, and, it could be said, are the principles by which PARCO continues to develop.

We began planning reconstruction work for SHIBUYAPARCO in 2007. The building received approval as a special urban

renaissance district in December 2015, and progress was made on planning for the project as an urban area redevelopment project.

November 2019 will see the 50th anniversary of the 1969 founding of IKEBUKUROPARCO. The reborn "SHIBUYAPARCO", on the precipice of that turning point, is continuing to develop, with its sights set on the next 50 years.

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Building Concept:

Presenting a Unique "Next Generation Commercial Facility" to the World

The aim of SHIBUYAPARCO is not merely to fulfill needs, but rather to create them, and to create new value propositions for visitors. SHIBUYAPARCO aims to be more than an ordinary commercial facility, by working together with vendors such as designers and creators, in order to take on new challenges and create new fun and stimulating experiences, and communicate new trends on a global scale. SHIBUYAPARCO enhances its sense of being a unique destination by bringing together a line up of stores centered on specialist businesses with strengths in design, art, and entertainment.

Target Market: "Non-age," "Genderless," "Cosmopolitan"

We do not aim for a target market based on any particular age or gender segment with SHIBUYAPARCO. Instead, we aim for it to be a building that attracts urbanites from across the world, who have a yearning "to search out new things, different people, fun activities, and individuality."

Five Building Blocks

SHIBUYAPARCO currently has a line up of around 180 shops rich in personality. These are structured around the five key areas of "fashion," "art & culture," "entertainment," "food," and "technology". Floors are arranged so that there is always a mix of all five elements, such that they reinforce each other and heighten each other's appeal.

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1 Fashion

We believe in the value of fashion.

Instead of focusing just on the big and the famous, we look for brands that have something interesting about them, and have some kind of original edge. SHIBUYAPARCO hosts around 100 fascinating stores, representing a wide variety of Tokyo styles, including luxury, contemporary, street, casual, vintage, and more. Our aim is to lead consumers to rediscover the fun of fashion, and to be a building that fashionistas from across the world can enjoy.

■ Incubation with a Focus on "Individual" Next Generation Talent

We are developing a select sales floor intended to contribute to the development of new brands in "GEYSER PARCO"the 3rd floorand "PORT PARCO"the 4th floor, as part of our efforts to incubate the next generation of fashion designers and brands. PARCO provides retailers with a finished interior, as well as shared check outs and fitting rooms. The 3rd floor shop naming, logos, and visual art direction are done in collaboration with YAR, a creative team lead by YOSHIROTTEN, who is renowned for his broad range of experience as an art director. On the 4th floor, PARCO facilitates talented and ambitious designers active in Tokyo, by allowing them to run pop up shops, as part of a contract with the Tokyo Metropolitan Government. Working together with retailers, PARCO puts on promotional shows and installations in an effort to further spur sales for those brands.

Shop image of GEYSER PARCO

Shop image of PORT PARCO

  • Putting sustainability into fashionthe 4th floor

The 4th floor brings together a variety of services for fashionistas who truly value their clothes, including cleaners that use environmentally friendly wet cleaning methods, specialist garment repairers, and discerning, specialist secondhand dealers.

2 Art & culture

In addition to the 9 stores we are opening that will function as galleries, we will be presenting art & culture events in various other forms.

  • "PARCO MUSEUM TOKYO"the 4th floor: Delivering culture to the World

PARCO MUSEUM TOKYO is a museum space centered around art, design, and fashion, for creating

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exhibitions that find new and original things and experiences out of nothing, and communicating them both throughout Japan and the world.

The logo was created by globally renowned design group Tomato. The interior design was headed up de:sign, a partnership between up and coming interior designers Yamamoto Daisuke and Tenmizu Yoshitaka.

  • "GALLERY X"the 1st floor basement:

A Borderless Collection from the Shibuya Underground

GALLERY X will be opening in the first floor basement of SHIBUYAPARCO after relocating from Shibuya's Spain-zaka. The cutting edge, borderless collection by the PARCO team finds fresh new angles on everything from art culture to anime, video games, and music.

  • Diverse Galleries to Experience Seasonal Culture

A broad variety of galleries showcasing art & culture will visit

SHIBUYAPARCO, bringing new discoveries every time.

We will be opening with gallery style shops by art magazine "Bijutsu-techo", who will be running "OIL by Bijutsu-techo"the 2nd floor, which aims to present the "modern art" of

today," "Hobo Nikkan Itoi Shinbun's" "Hobonichi Caluchan"the 4th floor]]], which serves as a "cultural hub" for Tokyo culture, and "HOBO nichiyobi"the 8th floor, centered on the theme of "always being on the look out for something fun," as well as Nakameguro M.I.U. 's "M.I.U. N°2"the

7th floor.

  • Japanese Culture Centralthe 6th floor

The 6th floor forms a zone for spreading Japanese Culture. On this floor, we have created a base for spreading cyber subculture, bringing together major Japanese rights holders such as "Nintendo TOKYO," "Pokémon Center SHIBUYA," and "Touken Ranbu Yorozuyahonpo". This is not only a space where you can buy goods. By merging video games, anime, e-sports, art, fashion and food with

Japanese character culture, we have created an unprecedented Japanese Culture space that offers visitors a full sensory experience. This space communicates trends not only to Japanese, but also global audiences.

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3 Entertainments

SHIBUYAPARCO offers high quality entertainment to visitors, through its diverse line up of entertainment venues.

  • Parco TheaterThe 8th floor: The Parco Cultural Core

As part of the redevelopment project, the Parco Theater, which lies at the heart of our cultural contributions, has been expanded to have 636 seats, or 1.5 times its previous capacity. It has been remade into a premium venue with all VIP seating. As Shibuya continues to develop ever more into an international tourist city, we are developing the space as part of a 360 degree theater business, with year round, 100% in-house productions, in a premium, world-class venue. Today, at the height of the age of live entertainment, Parco Theater will continue to shine at the core of PARCO's cultural promotion work.

  • A Minitheater Where Just Being There Is an Event :

Tentatively named "CINE QUINTO"the 8th floor

We are opening "CINE QUINTO," a minitheater directly operated by PARCO. In addition to screening unique, high

quality, genre spanning works, we also intend to screen works "outside of traditional film," such as foreign musicals, in order to create a fulfilling space for movie lovers.

  • QUATTRO LABOthe 1st floor basment:

A Music Café/Bar Produced by CLUB QUATTRO

The "QUATTRO LABO" music café/bar will be moving from Kichioji to the 1st floor basement of SHIBUYAPARCO. The venue aims to become the epitome of the analog audio revival with its high end audio equipment and massive collection of over 3,000 records. The CLUB QUATTRO and the neighboring GALLERY X will also periodically hold satellite exhibitions and events in an effort to achieve synergies between their projects.

4 Food

Food is a crucial part of the building's charm. The building's line up has been curated in line with the concept of "a place to gather, form a community, and enjoy time and space."

  • CHAOS KITCHENthe 1st floor basment: The Main Restaurant Floor

Based around the concept of "food, music, and culture," this floor features 21 new food and drink venues spanning famous Michelin Bib Gourmand certified restaurants, udon noodle restaurants, wild

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game and insect specialty shops, cafes, and MIX bars, in addition to a sprinkling of record shops and festival goods stores that add just the right amount of "unpredictability" to the space, creating the "CHAOS" food and drink zone.

  • Curating a Variety of Restaurants
  • The 7th floor will feature sushi train, tempura, yakiniku(barbecue), ramen and other Japanese and vegan specialty restaurants. The line up is designed to meet the needs not only of Japanese consumers, but also of the growing number of overseas visitors coming to Shibuya.
  • The 1st floor roadside will feature "COMINGSOON", a culinary gallery promoting food culture, and an occasional pop-up

wine bar in a flower shop, in addition to retail annex cafés, sake, and beer stands, which will accentuate the fun of walking through the town.

  • The 4th floor will see the opening of chef Kan Morieda's restaurant "chompoo". Chompoo is a

"profoundly flavorful" Thai restaurant, that uses a rich selection of herbs sure to delight the body as well as the palate, without merely being a "novelty in Japan," or "just spicy." As with our fashion offerings, we strive in the culinary field to employ creative chefs with strong track records to create new offerings.

Kan Morieda

Kan Morieda was born in 1986. Starting with his time at "Tetsuya's" in Australia, he trained at a variety of famous restaurants. While working as a chef at "Salmon&Trout", he held events in collaboration with restaurants around the world, eventually developing a passion for Thai cuisine. His unconventional career has seen him open and supervise restaurants such as "The OPEN BOOK" and "Maruta," and serve as food director at the Hibiya Music Festival2019.

5 Technology

SHIBUYAPARCO presents new ways of communicating and new paradigms in shopping for consumers in the digital age.

■SHOPPING× TECHNOLOGYthe 5th floor

SHIBUYAPARCO will be developing an omnichannel marketplace called "CUBE" (provisional name), which will combine e-commerce with traditional over-the-counter sales. With 11 stores covering an area of approximately 430 , the challenge we set ourselves was to combine small shops with more restricted sales floors and inventories, and digital technology, in order to create a retail space where consumers could discover the products they were after. As NEXT stores, with enhanced show room

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PARCO CO.,LTD.

functionalities, the stores focus on strategic items and limited edition products, while managing other goods using digital technology, and retailing them through the PARCO ONLINE STORE.

The space is arranged so that consumers can engage in stress free shopping by sending data directly to their portable device using large signage in common areas, or signage within specific stores, and so allowing them to buy goods not available in stores at any time online.

Shop image of CUBE

■ART× TECHNOLOGYthe 5th floor

Using XR (*1) technology, we will be hosting spatial presentations that use computer generated 3D graphic creative works delivered via smartphone or AR-ready glasses, giving visitors the sense that the works really exist in that space. We are already planning to display an installation by Discont, a VR designer who won the PARCO Prize at the NEWVIEW AWARD 2018, a VR content award held in 2018, with production currently under way.

*1 [[[XRVRVirtual Reality)・ARAugument Reality)・MRMixed Reality]]].

"VR" stands for virtual reality. It is a technology that shows a "virtual world" using specialized goggles, giving the user the sense of actually being in that place.

  • AR" stands for augmented reality. It is a technology that uses smartphone cameras to add CG and other digital information to the actual world.

"MR" stands for mixed reality. It is a technology that allows users to experience a CG space layered on top of the actual world using specialized glasses.

  • Plus Technology Enabled Shops

We have also introduced cafés and showroom style shops that enable more personalized experiences through Technology. Tyffonium cafe will be opening on the 1st basement floor, where visitors will have the chance to experience a new style café by Tyffon Inc.,

which uses cutting-edge technology to create experiences that are "like magic." The café provides sweets using AR (augmented reality) technology to create new sensations.

The 1st floor will host BOOSTER STUDIO by CAMPFIRE, a first of its kind in Japan, crowdfunding, proof-of-concept AI showroom. The space will allow visitors to try out unique, new

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digital products and ideas, such as IoT goods, before they spread throughout the world.

Architectural Design

  • PARCO's Foundations: An Architectural Design that Takes on Shibuya as a City

In an effort to realize PARCO's founding principles of "business incubation," "urban revitalization," and "trends communication," we partnered with Takenaka Corporation for our building design, and the British based design studio Benoy for basic design of the commercial space.

Taking inspiration from the hills and streets that define Shibuya, the building's pathways and stairs spiral up from Spain-zaka to the tenth floor along its exterior (3D paths), creating a connection between the building and the city. The multifaceted, 3D exterior structure is based on a theme of "a pile of gemstones." Utilizing varying shapes, elements (ideas/techniques) to draw the whole together into a single soul, the structure expresses a call to incubation and innovation.

  • The Exterior Plaza and 3D Paths

The 3D paths connecting to Spain-zaka have entrances to stores on each level, creating a space where visitors can have a shopping experience akin to strolling around Shibuya.

In order to invite visitors to use the 3D paths as a gathering space, rest areas and vegetation that can be enjoyed across all seasons have been installed throughout the area. Events are also planned that will link up the plazas on the 4th, 8th, and 10th levels of the 3D paths, connecting them to the plaza on the ground level.

Designing a Creative Environment that Supports the Floor

■CHAOS KITCHENthe 1st floor basement

The CHAOS KITCHEN environment was designed architect Sou Fujimoto. By using reflective elements in the floors and ceilings, a chaotic space is born, which reflects the facades of shops, magnifying their uniqueness and diversity many times over, and which seems to meld and extend out despite being underground.

Additionally, we have installed the C from the PARCO Neon Sign that was on the exterior wall of the old SHIBUYAPARCO Part I Building, designed by Takenobu Igarashi. Debuting at the time of the 1981 opening of the SHIBUYAPARCO Part III Building, the logo sign, which came to be beloved by the public, will be permanently displayed as a "modern artwork." The 7th floor will host the "R," and 8th floor the "P."

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PARCO CO.,LTD.

Sou Fujimoto

Sou Fujimoto graduated from the School of Architecture in the Faculty of Engineering at the University of Tokyo, before founding Sou Fujimoto Architects in 2000. In 2014 he won first prize in an international architecture competition (for L'Arbre Blanc), following on from which he won major prizes at similar contests across Europe. In 2019 he was selected as the master architect in charge of the master plan for the Tsuda University Kodaira Campus. He is most widely known for designing the Serpentine Gallery Pavilion in London (2013), House NA (2011), the Musashino Art University Museum & Library (2010), and House N (2008).

Takenobu Igarashi

Takenobu Igarashi is a sculptor and designer. He is a globally renowned graphic and product designer, known for his use of axonometric projection in making a calendar and 3D alphabet for the Museum of Modern Art, New York, his VI design work for Suntory Hall/Calpis, and his product design collaborations with local industries. Since 1994, he has transitioned to working as a sculptor. He has produced numerous public artworks in a variety of mediums including wood, stone, metal, terracotta, and stained glass. He is professor emeritus in art at Tama Art University.

■Mode & Artthe 2nd floor

The environmental design for the 2nd floor, which forms the core of the building's fashion business, was handled by Singapore based art director Theseus Chan. The abstract border patterns are inspired by the Shibuya Scramble Crossing, and the diverse visitors to the city who cross it. The intermingling of visible (white) and invisible (black) sections in the borders expresses the fascination and joy of the ineffable unknown, pushing the

power and possibility of the fashion put forward by SHIBYAPARCO still further.

Theseus Chan

Theseus Chan is a creative director and designer. He was the first Designer of the Year at the inaugural President's Design Award Singapore, and has also won the D&AD yellow pencil, NYADC, and Tokyo TDC prizes. In 2015 he became the first Singaporean chosen as a member of AGI (Alliance Graphique Internationale). His works are kept in Hong Kong's M+ and New York's Cooper Hewitt Smithsonian Design Museum. www.workwerk.com

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PARCO CO.,LTD.

SHIBUYAPARCO Overview

Name SHIBUYAPARCO

Location

15-1,Utagawa-cho,Shibuya-ku, Tokyo

Commercial floor area Approximately 42,000

Floor number

Commercial : basement to 9th floor, part of 10th floor

(entire building: basement 3rd floor to 19th floor)

Opening date

22nd November 2019

Number of stores

Around 180 shops

WEB site address

https://shibuya.parco.jp

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Disclaimer

PARCO Co. Ltd. published this content on 09 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 October 2019 12:25:07 UTC

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EBIT 2020 12 800 M
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NameTitle
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