Muji set to relocate its headquarters due to Brexit

576

Muji has become the latest company to consider moving its European headquarters out of the UK as Brexit negotiations continue.

The Japanese Fashion brand’s owner Ryohin Keikaku Co, which has run its European operation from London since 2007, is considering a move to Germany according to a Bloomberg report.

It is understood that its head office in London employs around 50 people, and the potential impact of the move on these employees is as yet unclear.

Muji currently trades from 12 locations across the UK.

A spokesperson for Muji told Bloomberg that “no new location had been decided on”, but that it was “reviewing the risks from Brexit and always considering all available options.”

This follows similar reports from numerous major companies, including Panasonic yesterday and Anglo-Dutch conglomerate Unilever back in June.

In March it was reported that one in seven European companies with UK suppliers had moved part or all of their business out of Britain, and major banks like HSBC, Barclays and Lloyds of London have all relocated their headquarters.

Click here to sign up to Retail Gazette‘s free daily email newsletter