Intermestic

Basic Information

Stock Code
262A
Industry
Retail
Category Detail
Apparel & Fashion Retailers
Prefecture
Tokyo
Establishment Year
May 1993
Listing Year
October 2024
Official Website
https://www.zoff.com/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Adways, JINS Holdings, Ubicom, Migalo HD, Japan Eyewear Holdings, Paris Miki Holdings, Aigan

Overview

Intermestic, established in 1993, operates the eyewear chain 'Zoff' and is a leading retail company characterized by its SPA model for low-priced integrated production and sales.

Current Situation

Intermestic recorded consolidated net sales of 44.8 billion yen and operating profit of 5.0 billion yen for the fiscal year ending December 2024, operating 237 domestic stores and 44 overseas stores. Its flagship brand 'Zoff' has built a competitive advantage through an SPA model offering eyeglass frames and lenses in fixed-price sets. It also features a robust lineup of sunglasses and is advancing product development with superior pollen protection and design appeal. In recent years, it has aggressively pursued overseas expansion, focusing on the Asian market to differentiate within the industry. As technological innovations, it promotes the development of lightweight and thin eyeglasses, contributing to customer base growth. It also addresses sustainability by increasing eco-friendly products and community contribution activities. Following its 2024 Tokyo Stock Exchange Prime Market listing, it aims to strengthen its capital base and accelerate growth investments. In the future, it seeks further growth through new products and ventures.

Trivia

Interesting Facts

  • Zoff opened its first store in Shimokitazawa, Tokyo, in 2001.
  • Pioneer in SPA business model covering eyeglass planning to sales.
  • First in Japan to popularize fixed-price eyeglass sales.
  • Domestic network of 237 stores is top-class in the industry.
  • Overseas expansion into China, Hong Kong, and Singapore.
  • Multifunctional anti-pollen sunglasses are popular.
  • Management led by family of founder Teruhiro Ueno as major shareholders.
  • Early adoption of smartphone app integration in stores.
  • Emerging company listed on Tokyo Stock Exchange Prime in 2024.
  • Zoff trademark registered in Japan.
  • Manufacturing leverages imported frames and lenses for cost control.
  • Product designs appealing to wide age groups.
  • Rapid store expansion centered on franchises.
  • Active pop-up stores in shopping centers.
  • First in domestic eyewear stores to introduce online try-on system.

Hidden Connections

  • Louis Vuitton positioned as strategic partner through capital participation.
  • Competes with industry giant JINS Holdings while contributing to mutual market growth.
  • Strong family management elements, with most major shareholders from the Ueno family.
  • Store openings in major Asian cities support China's economic growth.
  • Pollen protection products utilize joint research results with medical institutions.
  • Collaborates with eye clinics to develop health-conscious customer segments.
  • Online technology development strongly influenced by IT executive background.
  • Marketing initiatives targeting environmentally conscious younger demographics are characteristic.

Future Outlook

Growth Drivers

  • Expanding eyeglass demand in Asian markets
  • Increasing needs for health and functional products
  • Strengthening of online sales channels
  • Development of fashion-focused products for younger demographics
  • Promotion of nationwide franchise model expansion
  • Rising consumer interest in sustainable products
  • Enhanced customer experience through digital technology
  • Flexible response to diversifying customer demands
  • New customer acquisition through regional expansion
  • Enrichment of high-value-added product lineup
  • Differentiation strategies in domestic mature market
  • Overseas store revenue growth

Strategic Goals

  • Surpass 500 stores domestically and internationally
  • Achieve net sales over 70 billion yen
  • Sustainable products ratio over 70%
  • Online sales ratio over 30%
  • Achieve energy-saving and CO2 reduction targets
  • Improve franchisee satisfaction
  • Advance technological innovation through expanded R&D investment
  • Realize product development for diverse customer segments
  • Expand community contributions and strengthen social trust
  • Improve employee diversity and work-life balance

Business Segments

Corporate Transactions

Overview
Bulk sales and customization of eyeglasses and sunglasses tailored to corporate needs.
Competitiveness
Flexible customization and rapid mass production capabilities
Customers
  • Ophthalmology clinics
  • Corporate welfare departments
  • Major retail chains
  • Food and beverage industry
  • Tourist facilities
Products
  • Bulk eyeglass orders
  • Custom design eyeglasses
  • Sunglasses
  • Accessory sets

Franchise Store Support

Overview
Supports operation and product supply for Zoff franchise stores.
Competitiveness
Franchise support leveraging know-how and brand power
Customers
  • Domestic franchise eyewear stores
  • Overseas franchise partners
Products
  • Store operation support
  • Product supply
  • Marketing support

Overseas Market Sales

Overview
Product provision and distribution channel development for Asian retail markets.
Competitiveness
Region-adapted products and strong local networks
Customers
  • Chinese retailers
  • Singapore retailers
  • Hong Kong local agents
Products
  • Local eyeglass sets
  • Sunglasses
  • Related accessories

Competitive Advantage

Strengths

  • Low-price, high-quality integrated system via SPA model
  • Extensive domestic and international store network and brand recognition
  • Product lineup addressing diverse customer needs
  • Strengthened growth base through aggressive overseas expansion
  • Specialization in the expanding sunglasses market

Competitive Advantages

  • Customer support gained through fixed-price frame-and-lens bundle strategy
  • Unique product development incorporating functionality like pollen protection
  • Strength of franchise model in collaboration with stores
  • Brand value enhancement through pursuit of sustainable manufacturing and sales
  • Market trend responsiveness via rapid new product launches

Threats

  • Intense price competition and increasing new entrants
  • Growth slowdown due to maturing eyeglass market
  • Overseas market regulations and cultural differences
  • Risk of rising raw material costs
  • Decreased store traffic due to social changes like COVID-19

Innovations

2024: Launch of Detachable Hood Anti-Pollen Sunglasses

Overview
Developed multifunctional sunglasses with removable hood for pollen allergy relief.
Impact
Boosted seasonal sales and expanded customer base

2023: Zoff SMART Ultra-Lightweight Eyeglasses Development

Overview
Introduced new series featuring ultra-thin frames 20% lighter than previous models.
Impact
Well-received by elderly and frequent users, successfully expanding market share

2022: Introduction of Online Fitting System

Overview
Equipped e-commerce site with AI-based virtual eyeglass try-on feature.
Impact
Improved satisfaction for online shoppers and increased purchase rates

2021: Expansion of Eco-Friendly Plastic Usage

Overview
Developed and began using recycled material frames.
Impact
Contributed to improved sustainability evaluation

2020: Introduction of Smart Lockers for Store Labor Reduction

Overview
Installed smart lockers enabling contactless pickup at stores.
Impact
Achieved improved customer convenience and labor cost reductions

Sustainability

  • Introduction of recycled plastic frames
  • Promotion of energy-saving measures in stores
  • Improvement in business waste recycling rate
  • Expansion of health-considerate products like pollen protection
  • Environmental awareness activities in collaboration with local communities
  • Environmental guidance for franchise stores
  • Expansion of sustainable packaging adoption
  • SDGs training for employees
  • Ongoing issuance of CSR reports
  • Setting of CO2 emission reduction targets
  • Internal initiatives to promote diversity
  • Customer-participating environmental campaigns