Expert on Japan Retail and Consumer Markets, JapanConsuming

Michael Causton

Expert on Japan Retail and Consumer Markets

Real Insight on Japanese Consumer Markets

JapanConsuming

JapanConsuming is a specialist research firm producing intelligence on Japanese retail and consumer markets. Founded in 2000, JapanConsuming has become the leading provider of insights on Japanese retailers and consumer trends to retailers, brands, government agencies and investors. As well as a highly regarded monthly report on the market, JapanConsuming produces in-depth reports on retail sectors, seminars on key trends and telephone consulting to investors on trends and retailers.

JapanConsuming was founded by Michael Causton and Roy Larke. 

Event-Driven

<ul>
<li>Crooz’s Shop-list.com used to be one of the fastest growing online fashion malls in Japan but, just before Covid, it hit a wall and hasn’t recovered since. </li>
<li>Now it will be merged with Korean fashion mall, Nugu, and its real value as a database of young female consumers will become clear. </li>
<li>This should help Nugu grow to GTVs of ¥100 billion from Japan alone but will leave Crooz as a small bit player in digital services.</li>
</ul>


Crooz’s Shop-list.com used to be one of the fastest growing online fashion malls in Japan but, just before Covid, it hit a wall and hasn’t recovered since. 
Now it will be merged with Korean fashion mall, Nugu, and its real value as a database of young female consumers will become clear. 
This should help Nugu grow to GTVs of ¥100 billion from Japan alone but will leave Crooz as a small bit player in digital services.


Crooz Sells Online Mall Business to Korea’s Nugu

Thematic (Sector/Industry)

<ul>
<li>There have been a lot of deals in the last 5 years, including M&amp;A between Japanese companies, distribution deals/licenses, foreign companies buying into Japan and Japanese buying foreign brands. </li>
<li>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.</li>
<li>Here we provide a comprehensive list of deals between 2019-2025 as well as a map showing who owns who and, as important, who influences who without any paperwork at all.</li>
</ul>


There have been a lot of deals in the last 5 years, including M&amp;A between Japanese companies, distribution deals/licenses, foreign companies buying into Japan and Japanese buying 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.
Here we provide a comprehensive list of deals between 2019-2025 as well as a map showing who owns who and, as important, who influences who without any paperwork at all.


[Japan M&A] Who Owns Who in Fashion & Lifestyle Markets

Equity Bottom-Up

<ul>
<li>Qoo10 is tiny in comparison to Amazon, Rakuten and Yahoo but it punches well above its weight by specialisation. </li>
<li>The online mall’s focus on Korean cosmetics and lifestyle has given it a depth of loyalty among young women that was once the preserve of Zozo.</li>
<li>Along with its other platform Move, Ebay Japan has built a solid presence in the Japanese market which looks set to continue to expand.</li>
</ul>


Qoo10 is tiny in comparison to Amazon, Rakuten and Yahoo but it punches well above its weight by specialisation. 
The online mall’s focus on Korean cosmetics and lifestyle has given it a depth of loyalty among young women that was once the preserve of Zozo.
Along with its other platform Move, Ebay Japan has built a solid presence in the Japanese market which looks set to continue to expand.


<ul>
<li>The Japanese fashion e-commerce market is undergoing rapid transformation: while online sales continue to grow, the channel’s share of total fashion sales has fluctuated due to strong in-store performance.</li>
<li>Even the best exemplars of effective integration of online and offline and personalised marketing have seen e-commerce share fall as physical store sales have risen faster for many. </li>
<li>Omnichannel models continue to evolve, with great examples of deeper integration of stores and digital through staff activities like blogging and Live Commerce.</li>
</ul>


The Japanese fashion e-commerce market is undergoing rapid transformation: while online sales continue to grow, the channel’s share of total fashion sales has fluctuated due to strong in-store performance.
Even the best exemplars of effective integration of online and offline and personalised marketing have seen e-commerce share fall as physical store sales have risen faster for many. 
Omnichannel models continue to evolve, with great examples of deeper integration of stores and digital through staff activities like blogging and Live Commerce.


Fashion E-Commerce in Japan: Stores Are Key Too

<ul>
<li>After a bumper bonus during Covid, the fashion sector saw calmer spending in the last 18 months as the big return to shops led to more muted growth online. </li>
<li>The overall EC fashion market grew around 4-7% depending on how you measure it, but online market share actually fell as people went back to shops.</li>
<li>This in-depth review highlights the key trends in the sector as well as the winners by sales growth among retailers and fashion brands.</li>
</ul>


After a bumper bonus during Covid, the fashion sector saw calmer spending in the last 18 months as the big return to shops led to more muted growth online. 
The overall EC fashion market grew around 4-7% depending on how you measure it, but online market share actually fell as people went back to shops.
This in-depth review highlights the key trends in the sector as well as the winners by sales growth among retailers and fashion brands.


Fashion E-Commerce: Physical Stores Grow Faster than Online in Japan

Japan

CROOZ, Inc. provides online recruitment and outsourcing services for information technology and Internet companies.  The Company also operates a search engine website and offers entertainment content and advertising services for cellular phones.

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Crooz Inc (2138 JP)

Crooz Sells Online Mall Business to Korea’s Nugu

Crooz's Shop-list.com merges with Nugu to leverage database of young female consumers, boosting Nugu's growth in Japan while leaving Crooz as a...

Michael Causton

[Japan M&A] Who Owns Who in Fashion & Lifestyle Markets

Recent years have seen a surge in deals between Japanese and foreign companies in lifestyle/fashion, driven by consolidation and category...

Michael Causton

Ebay's Qoo10 Surges on K-Style Boom

Ebay's Qoo10 may be small compared to giants like Amazon, but its specialization in Korean cosmetics has earned it a loyal following among young...

Michael Causton

Fashion E-Commerce in Japan: Stores Are Key Too

Japanese fashion e-commerce market sees growth, but in-store sales outpace online, challenging even top omnichannel strategies. Staff engagement...

Michael Causton

Fashion E-Commerce: Physical Stores Grow Faster than Online in Japan

Fashion sector saw a slowdown in online spending post-Covid as shoppers returned to physical stores, impacting overall market growth. Winners in...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Crooz Sells Online Mall Business to Korea’s Nugu

​Crooz's Shop-list.com merges with Nugu to leverage database of young female consumers, boosting Nugu's growth in Japan while leaving Crooz as a...

Michael Causton

[Japan M&A] Who Owns Who in Fashion & Lifestyle Markets

​Recent years have seen a surge in deals between Japanese and foreign companies in lifestyle/fashion, driven by consolidation and category...

Michael Causton

Ebay's Qoo10 Surges on K-Style Boom

Ebay's ​Qoo10 may be small compared to giants like Amazon, but its specialization in Korean cosmetics has earned it a loyal following among young...

Michael Causton

Fashion E-Commerce in Japan: Stores Are Key Too

​Japanese fashion e-commerce market sees growth, but in-store sales outpace online, challenging even top omnichannel strategies. Staff engagement...

Michael Causton

Fashion E-Commerce: Physical Stores Grow Faster than Online in Japan

​Fashion sector saw a slowdown in online spending post-Covid as shoppers returned to physical stores, impacting overall market growth. Winners in...

Michael Causton

Crooz's Shop-list.com merges with Nugu to leverage database of young female consumers, boosting Nugu's growth in Japan while leaving Crooz as a...

Recent years have seen a surge in deals between Japanese and foreign companies in lifestyle/fashion, driven by consolidation and category...

Ebay's Qoo10 may be small compared to giants like Amazon, but its specialization in Korean cosmetics has earned it a loyal following among young...

Japanese fashion e-commerce market sees growth, but in-store sales outpace online, challenging even top omnichannel strategies. Staff engagement...

Fashion sector saw a slowdown in online spending post-Covid as shoppers returned to physical stores, impacting overall market growth. Winners in...