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Companies

Uniqlo rival Zozo sees 1st profit decline as tailor-fit strategy flops

CEO Maezawa's ambitions fall to earth as shoppers snub polka-dot measurement suit

Yusaku Maezawa, the chief executive of Zozo, speaks at a product launch in July 2018.   © Reuters

TOKYO -- Online clothing retailer Zozo, once one of Japan's fastest-growing e-commerce startups, on Thursday forecast the first profit decline in its history and said it is reviewing ambitious plans to sell custom-fit clothes.

The company led by high-profile billionaire Yusaku Maezawa -- whom SpaceX picked as its first customer for a moon voyage -- has been hit by disappointing sales of the private-label clothing brand, which it had positioned as a tool for overseas expansion.

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