Honeys Holdings

Basic Information

Stock Code
2792
Industry
Retail Industry
Category Detail
Apparel & Fashion Accessories
Prefecture
Fukushima Prefecture
Establishment Year
June 1978
Listing Year
December 2003
Official Website
https://www.honeys.co.jp/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Shinto Holdings, Famarize, Matsuoka Corporation, ERI HD, F-Force G, Yamato International, Fast Retailing

Overview

Honeys Holdings, founded in 1978, is a leading retail company specializing in the planning, manufacturing, and sales of women's clothing, with nationwide expansion leveraging its strength in a trend-following quick-response system.

Current Situation

Honeys Holdings recorded consolidated sales of approximately 45.4 billion yen and operating profit of approximately 3.7 billion yen for the fiscal year ended May 2021. Centered on its mainstay casual women's apparel, it operates over 400 stores nationwide and enjoys support from a wide range of consumers. Utilizing production bases in South Korea and China, it completes the process from design to manufacturing in about 40 days, featuring rapid product supply. This enables quick responses to trends, reduction of inventory risk, and provision of affordable, high-quality products. Overseas expansion is also progressing, with a production factory in Myanmar supporting growth. The company focuses on sustainable management, promoting corporate social responsibility activities such as employing people with disabilities. Moving forward, it aims for further customer segment expansion and revenue growth through new brand development and strengthened digital marketing. Key differentiators from competitors include speedy design capabilities and diverse sales channel utilization, with plans for store expansion toward fiscal 2025.

Trivia

Interesting Facts

  • Honeys pioneered the quick-response method in Japan, establishing itself as a leading women's apparel manufacturer.
  • Started as a small store in Iwaki City, Fukushima Prefecture, immediately after founding.
  • One of the few Japanese apparel companies operating a factory in Myanmar.
  • Featured on TV Tokyo's 'Gaia no Yoake'.
  • Has established a special subsidiary actively promoting employment for people with disabilities.
  • Many stores are located within large suburban shopping centers.
  • Achieves short lead time product supply of around 40 days.
  • Industry leader in segmenting trends and planning products weekly.
  • Strong support among young demographics for cost-performance.
  • Maintains head office functions in Fukushima Prefecture even after going public.

Hidden Connections

  • The Myanmar production factory contributes to local economic development and creates regional employment.
  • Disability employment promotion is evaluated as a model CSR activity within the industry.
  • Trend analysis team daily collects latest trends from Tokyo's Shibuya and applies to planning.
  • Suburban large store deployment functions as a differentiation strategy from competitors.
  • Main brand Honeys boasts strong brand power even in regional cities.
  • President Eisuke Ejiri is from the founding family, ensuring management continuity.
  • Special subsidiary for disability employment was established in 2015, an early move in the industry.
  • Major shareholders include Japan Master Trust Bank and other large trust banks.

Future Outlook

Growth Drivers

  • Strengthening of sustained quick-response production system
  • Expansion of digital marketing and EC channels
  • Further development of suburban large stores domestically
  • Continuous improvement in overseas production efficiency
  • Customer segment expansion via new brands
  • Market leadership through sustainable product adoption
  • Product diversification responding to lifestyle changes
  • Corporate value enhancement through disability employment expansion

Strategic Goals

  • Achieve over 500 stores
  • Expand digital sales ratio to over 30%
  • Achieve 50% reduction in environmental impact
  • Achieve 50% utilization rate of sustainable materials
  • Strengthen regional social contribution activities and improve evaluation
  • New brands to account for 20% of total sales
  • Further optimization of overseas production framework
  • Establish diverse talent recruitment and development system
  • Achieve operating profit over 5 billion yen through profitability improvement

Business Segments

Women's Apparel Manufacturing Outsourcing

Overview
Undertakes planning through manufacturing of women's apparel both domestically and overseas, delivering products while maintaining quality.
Competitiveness
Quick-response system from design to production
Customers
  • Domestic Retailers
  • Overseas Apparel Brands
  • Specialty Store Chains
  • Department Store Operators
  • EC Businesses
Products
  • Planning and Design Services
  • Manufacturing Outsourcing Services
  • Quality Management
  • Supply Chain Management

Logistics and Store Operations Support

Overview
Provides logistics services to optimize store operations, product management, and delivery.
Competitiveness
Rapid supply system to nationwide store network
Customers
  • Own Stores
  • Franchise Stores
  • Wholesalers
Products
  • Warehouse Management
  • Store Delivery
  • POS System Support

IT System Services

Overview
Provides IT solutions aimed at improving sales efficiency and customer satisfaction.
Competitiveness
Data utilization responsive to sales trends
Customers
  • Internal Business Divisions
  • Retail Partners
Products
  • Sales Data Analysis Tools
  • Inventory Management Systems
  • Customer Management Platforms

Overseas Production Management

Overview
Management services for stable supply of high-quality products from production bases in China and Myanmar.
Competitiveness
Coordination of overseas production while maintaining Japanese quality standards
Customers
  • Own Production Factories
  • Overseas Contractors
  • Local Partners
Products
  • Quality Inspections
  • Raw Material Procurement
  • Local Production Planning

Marketing Support

Overview
Provides marketing services to strengthen sales promotion and brand expansion.
Competitiveness
Rapid response based on consumer trend analysis
Customers
  • Own Brand Divisions
  • Retail Partners
  • Advertising Agencies
Products
  • Campaign Planning
  • SNS Deployment Support
  • Customer Analysis Reports

Competitive Advantage

Strengths

  • Rapid quick-response system
  • Extensive sales network from nationwide expansion
  • Diverse brand lineup
  • Cost competitiveness via overseas production
  • High-sensitivity fashion planning
  • Affordable high-quality products
  • Stable financial foundation
  • Regionally focused store strategy
  • Long experience in women's apparel retail

Competitive Advantages

  • Short lead time system completing design to manufacturing in about 40 days
  • High customer access via stores mainly in suburban large retail facilities
  • Inventory risk reduction through multi-variety small-lot production
  • Operation of own manufacturing factories in Myanmar and China
  • Ability to immediately incorporate trends into products
  • High brand recognition and consumer trust
  • Sales opportunity maximization through multi-channel deployment
  • Active engagement in social responsibility such as disability employment promotion
  • Management efficiency via holding company structure

Threats

  • Intensifying brand strengthening and price competition from rivals
  • Sudden shifts in consumer fashion preferences
  • Political risks and exchange rate fluctuations at overseas production sites
  • Changes in purchasing behavior due to novel viruses or social conditions
  • Rising logistics costs
  • Increased cost burdens from stricter environmental regulations
  • Store operation challenges from labor shortages
  • Risk of physical store sales decline amid rapid online sales growth

Innovations

2022: Launch of New Brand 'She'Labo'

Overview
Launched new brand pursuing trends for young women.
Impact
Contributes to customer segment expansion and sales growth

2023: Digital Marketing Enhancement Project

Overview
Introduced AI analysis tools to strengthen promotion via SNS and EC sites.
Impact
Achieved 10% increase in online sales

2024: Overseas Production Base Efficiency Improvements

Overview
Introduced IT-integrated systems at Myanmar factory to optimize production lines.
Impact
15% improvement in production efficiency

2021: Establishment of Special Subsidiary for Disability Employment Promotion

Overview
Established special subsidiary Honeys Heartful Support to strengthen social responsibility.
Impact
Improves corporate image and contributes to regional community

2020: Sustainability Promotion Office Established

Overview
Newly created dedicated department to address environmental and social issues, strengthening framework.
Impact
Enhances internal awareness and sustainable management foundation

Sustainability

  • Initiatives to promote employment of people with disabilities
  • Logistics optimization to reduce environmental impact
  • Energy efficiency improvements at production factories
  • Social contribution activities through collaboration with local communities
  • Promotion of recycled materials usage
  • Promotion of work-life balance for employees
  • Expansion of sustainable material adoption
  • Adoption of sustainable procurement standards