GEO HOLDINGS will change its corporate name to 2nd RETAILING Co.,Ltd. tomorrow. It has presented a business mix centered on the reuse business, along with a ¥1 trillion revenue target through fiscal 2035 and its store-opening plans.
GEO HOLDINGS announced its corporate name change and said it would position the reuse business centered on 2nd STREET as the core of the group. The rental business is expected to continue, but the company says concerns about brand confusion were among the reasons for the name change.
The reuse business accounts for more than 60% of total revenue, and the company also operates OKURA in addition to 2nd STREET. The background includes overseas expansion and the growing contribution of reuse-related businesses to earnings.
Under its new corporate name, the company set a target of reaching ¥1 trillion in revenue by fiscal 2035 by further strengthening the reuse business. It plans to accelerate store openings and expand its operations in Japan and overseas.
The group plans to build a network of 5,000 stores. It aims to operate 1,000 stores in Japan by fiscal 2028 and 1,000 overseas by fiscal 2035.