Declining demand for apparel and accessories as affluent consumers increase their leisure spending
First written in FY2024-Q2. 4 of 6 entries say "Materialised", first in FY2024-Q3. Latest entry: FY2027-H1.
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- FY2027-H1MitigatedAnnual report
「In the fur and jewellery segment, the Company focused on sustainable proposals such as eco-fur and remodelling, developing new products, using department-store sales channels for high-net-worth customers, and holding events. Sales in the high-end market remained firm, and segment sales exceeded those of the same period of the previous year.」
While a previous period had recorded a decline in demand due to increased leisure spending by affluent consumers, sales in the high-end market remained firm, and segment sales exceeded those of the same period of the previous year. - FY2026MaterialisedAnnual report
「Spring/summer sales performed well, helped by stronger and more sophisticated product development and marketing approaches for specialty-store and e-commerce markets against a backdrop of the prolonged heatwave from last year. However, autumn/winter sales were affected by lower inbound demand and weakness in the mid- to high-end market, causing revenue to fall below the previous consolidated fiscal year's results.」
Lower inbound demand and weakness in the mid- to high-end market were reflected in full-year results as factors behind the decline in autumn/winter sales. - FY2025MaterialisedAnnual report
「For the fur and jewelry segment, the Group focused on sustainable proposals such as faux-fur products, using department-store private sales channels and holding events, but revenue fell below the previous fiscal year.」
Against a backdrop of declining demand due to increased leisure spending by affluent consumers and the mild winter, revenue in the segment including fur and jewelry fell below the previous fiscal year, with the decline in demand reflected in full-year results. - FY2024MaterialisedAnnual report
「In apparel and accessories, demand for our products declined as affluent consumers increased their leisure spending and related consumption. The autumn/winter selling season also struggled due to the impact of the mild winter. Although we focused on sustainable proposals such as fur remodeling and remaking, the use of department-store private sales channels, and promotional events, revenue fell below the previous fiscal year. Segment profit also declined significantly due to higher cost of sales resulting from the weaker yen and other factors, as well as inventory reviews and adjustments.」
The decline in demand due to increased leisure spending by affluent consumers and the difficult autumn/winter selling season caused by the mild winter were reflected in results. Apparel and accessories revenue was ¥662 million, down 8.0% year on year, and the segment reported a loss of ¥11 million. - FY2024-Q3MaterialisedAnnual report
「In apparel and accessories, demand for our products declined as affluent consumers increased their leisure spending and related consumption. Temperatures from September to November were higher than usual, delaying the start of the autumn/winter selling season. Although we focused on sustainable proposals such as fur remodeling and remaking, revenue fell below the same quarter of the previous year, while the cost of sales also rose due to the weaker yen and other factors, resulting in a significant decline in segment profit.」
The decline in demand due to increased leisure spending by affluent consumers and the delayed start to the autumn/winter selling season were reflected in results, with apparel and accessories revenue of ¥523 million, down 2.4% year on year, and segment profit of ¥37 million, down 44.4%. - FY2024-Q2First statedAnnual report
「In the apparel accessories business, comprising the fur and jewelry segment, inquiries for the company's products declined as affluent customers increased their leisure spending. In addition, much of the delivery and sale of autumn and winter products was delayed until October or later because of the extreme heat. Although the company focused on sustainable proposals including fur remodeling and remaking, sales fell below the same quarter of the previous year. The segment loss also fell below the previous year's level because of higher cost of sales caused by the yen's depreciation and other factors. As a result, apparel accessories sales were ¥221 million, down 5.3% year on year, and the segment loss was ¥54 million, compared with a segment loss of ¥26 million in the same quarter of the previous year.」
The company states that demand for apparel and accessories declined as affluent consumers increased their leisure spending and related consumption. Revenue fell 5.3% year on year to the same quarter, and the segment reported a loss of ¥54 million, indicating that the decline in demand was reflected in results.