June 2025 Issue
Yutori doubles sales again
Yutori is still a small business but is sometimes dubbed the Zozo of youth fashion, which is probably why Zozo bought a share in the online mall. And it’s proving a good bet, with sales doubling last year and a lot more expansion to come, thanks in part to investment in retail stores but also its uncanny ability to spot youth trends.
Editorial: Fashion: one brand is not enough
Isetan Shinjuku takes 24% of Tokyo market but worries for future
Department stores had a terrific year in FY2024, especially some of the more iconic stores like Isetan Shinjuku and Hankyu Umeda. Declining custom from tourists is beginning to be a real worry but the emphasis on capturing data on core local customers has, and will, pay big dividends for the best stores.
Ain acquires Kraft as drugstore M&A intensifies
Ain has confirmed the acquisition of Kanto-based prescription drug chains operated by Kraft. The move will help maintain Ain’s dominance in the dispensing pharmacy sector and encourage further M&A.
Koizumi to the rice rescue
In a piece of political theatre, Shinjiro Koizumi took over as farming minister last month and immediately announced the government will sell rice from its stockpiles at a fixed price directly to retailers, cutting out those hoarding middle-men, and so cut rice prices by half in June. This assumes retailers are happy to sell at government prices, but with rice inflation ongoing, desperate election times call for desperate measures.
Demand for high-end apartment blocks rising
Demand for premium city centre apartment blocks continues to rise even in second-tier cities, driven largely by wealthy older people looking to move in from the countryside to access services – and avoid inheritance tax, with significant implications for retailing.
Adastria offers popups for overseas brands at Harajuku flagship
Adastria has followed up the rebranding of its online business with a large flagship mini mall store targeting both locals and tourists, with plans to open more And ST stores across the country.
Mitsui offers its merchants more omnichannel services
Mitsui Fudosan has acquired a stake in Super Studio in order to expand the range of services it can offer its merchant clients, particularly in omnichannel such as popup stores, logistics and marketing.
ABC Mart extends lead in footwear
The footwear retail sector is a one horse race, with that horse being ABC Mart. It continues to grow at a respectable rate while increasingly diminutive rivals contract. ABC Mart is expanding further into the apparel category too, providing more room for future growth.
OK Super: shaking up Kansai
OK Super’s entry into the Kansai market is causing local competitors real headaches –one estimate says it has taken 10% share around its first store already. OK has exposed just how derivative most existing chains have become and, with the introduction of genuine price competition at a time when consumers are increasingly price sensitive, incumbents need to come up with new ideas fast.
No name change for Seven & I
Seven & I is still playing catch-up with its two domestic convenience store rivals while the spectre of a takeover bid from Couche-Tard looms large as it tries to raise performance. With developments largely hidden from public view there are also plenty of rumours swirling around the company.
FOCUS:
Who owns Who in Fashion & Lifestyle Markets
There have been numerous deals in Japan’s clothing/fashion/lifestyle markets in the last five years, including M&A between Japanese companies, distribution deals and licenses, foreign companies buying into Japan and Japanese buying or signing foreign brands. Consolidation is a key motivation but so are category expansion, rationalisation and buying in expertise. All these reasons and more suggest more deals to come in the next few years.
Retail Data: Shopping centres up 2.3%, dept. stores down 4.5%
IN BRIEF
NEWoMan Takanawa opening September
Growth at Rakuten Mobile boosts mall
Familymart rolls out new non-food lines
Mitsui to open new outlet mall in Aichi in November
Nagoya Station Redevelopment confirmed
Amazon netsuper adds Miyagi chain
Record sales at Gotemba Outlet mall
Itochu Textile posts record profit
Marui nears ¥5 trillion in GTVs
Delays in Shibuya
Workman on track for 1,300 stores in FY2030
LINE Yahoo Shopping up 2.6%
Mitsubishi to consolidate food wholesale business
Frozen food consumption still growing
Fuji Keizai conservative on e-commerce growth
53 new large stores confirmed in March
Atmos opens first clothing store
Mitsubishi Estate to open MARK IS in Kanamachi
Sogo Seibu opens satellite store
Sac’s Bar ties with Hong Kong’s Lojel
Dinos contracts again
Lopia franchise opens in Arclands home centre
Retail media attracts political ads
Convenience stores combat rodents
Abeno Harukas Kintetsu to get food renovation
Brands and Companies in this Issue
Adastria, 1–2, 8–9, 15, 19
Adidas, 4
Aeon, 5, 7, 11–12
Ain Holdings, 5
Akachan Honpo, 16–18
AllBirds, 14–15
Amazon, 1, 5, 15–17
Aoyama Shoji, 15–17
Arclands, 11–12
Asbee, 11
Askul, 1, 8
Atmos, 10
Bain Capital, 15, 18–19
Bals, 15
Banana Republic, 4
Barneys Japan, 15
Baycrews, 2, 15
Bigi Holdings, 15
Bravissimo, 16–17
Bus Stop, 16–17
Cainz, 18
Camper Japan, 16–17
Canada Goose, 16–17
Carrefour, 11
Cath Kidston, 9, 14–15
Chiyoda, 1, 10–11
Coronet, 6
Cosmos Yakuhin, 10
Counterworks, 9
Crooz, 15
Cross Company, 4
Daily Kanato, 12
Daimaru, 1, 18
Descente, 6, 15, 19
Direx, 10
Dome, 14–15
Don Quijote, 3, 7
Drawer Vascara, 16–17
Ebay, 16–17
Ecforce, 9
Ecopel Japan, 15
Eddie Bauer, 14–15
EssilorLuxottica, 16–18
Ewokaku, 1
Familymart, 4, 6, 12–13
Fancl Corporation, 15
Fashionwalker, 14
FMV, 12
Footlocker, 10
Fosun International, 19
FrancFranc, 15–17
Fred Perry, 6
Gap, 4
Genky Drugstore, 1
Goldwin, 14–15
GU, 16–17
Gyomu Super, 12–13
Hankyu Hanshin, 4
Hankyu Oasis, 12
Happoen Western, 3
Heart Relation, 1, 3
Himaraya, 15
Honeys Holdings, 1
Ikea, 8
Isetan, 1, 3–4, 16–17
Itochu Shoji, 2, 14–15, 19
Izumi, 19
Izumiya, 12
Jade Group, 14–15, 19
John Knits, 19
Joix Corp, 16–17
Kansai Supermarket, 12, 18
Kao Corporation, 15
Kintetsu, 5, 13, 18
Kirin Holdings, 15
KKR, 19
Kobe Bussan, 13
Koizumi, 1, 6–7
Komeri, 1
Kraft, 1, 5
Lalaport, 9
Laline Alpha, 16–17
Lanvin, 19
Laox, 14–15
Laura Ashley, 14, 16–17, 19
Lawson, 6, 8, 12–13, 18
Le Sportsac, 19
Leilian, 6
Life Corp, 8, 12
Line Yahoo, 16–17
Link Theory, 16–17
Locondo, 1, 14
Loft, 18
Lohaco, 8
Lojel, 11
Lojel Japan, 11
Lopia, 11–13
Lumine, 3
LVMH, 18
Mac House, 11, 16–17
Madhappy, 14–15
Magaseek, 1, 14–15
Maruhiro, 18
Marui, 6–7, 18
Marusho Hotta, 16–17
Mash Holdings, 2, 14–15, 18–19
Matsuya, 1, 15
Matsuzakaya, 1, 18
Meidiya Store, 3
Milleporte, 15
Ministop, 12
Minum, 1, 3
Mitsubishi Estate, 6, 10
Mitsubishi Shoji, 8, 15–17
Mitsubishi Shokuhin, 8
Mitsui Bussan, 16–17
Mitsui Fudosan, 4–5, 9
Mitsukoshi, 1, 3–4
Mizujin, 15
Mr Max, 7
Muji, 1, 16–17
Narumiya International, 15
Nice Claup, 16–17
Nice Weather, 14–15, 19
Nico And, 16–17
Nihon Chozai, 5
Nishimatsuya Chain, 1, 15–17
Nitori, 1, 10
Nittetsu Bussan, 16–17
Noin, 15, 19
Nugu, 14
Onward Holdings, 15
OpenLogi, 9
Oshman, 10, 14
Otsuka Kagu, 15
Owndays, 4
Palemo, 15–17
Parco, 14, 18
Paris Miki, 19
Paul Smith, 16–17, 19
PPI, 7
Puma, 4
Qoo10, 16–17
Rakuten, 1, 3–4, 7, 14
Reebok, 14
Renown, 15
Saikaya, 18
Sanrio, 9
Sanyo Shokai, 19
Sazaby League, 15–17
Seijo Ishii, 3, 5, 7–8
Senshukai, 18
Seven Eleven, 6, 13
Shimamura, 1, 10
Shoplist, 1, 14
SoftBank, 15
Sogo Seibu, 11
Stripe International, 16–17, 19
Sundrug, 5, 10
Super Studio, 9
Takashimaya, 1, 4, 15
Tobu Railways, 18
Tokyu, 7, 18
TopValu, 16–17
TSI, 2, 15–17
Tsuruha, 1, 5, 10
Tsuruya, 18
Ueno Shokai, 16–17
Under Armour, 6, 14–15
Uniqlo, 1, 8
United Arrows, 1, 14–15, 19
Valor, 5, 12
Washin, 16–18
Wedgwood Royal, 4
Welcia, 5
Workman, 1, 7
Yagi Tsusho, 15
Yahoo, 1, 7
Yamada Denki, 10, 15
Yaoko, 10
Yutori, 1–3, 15
Zozo, 1–2, 8, 14–15, 19