Yusaku Maezawa Acquires Stake in United Arrows and Adastria
The Zozotown founder says it was for “investment purposes.”
Moon-bound Zozotown founder Yusaku Maezawa has just invested ¥3.5 billion JPY (approximately $32.8 million USD) and ¥4.1 billion JPY (approximately $38.5 million USD) into Japanese apparel companies United Arrows and Adastria, respectively.
The colorful billionaire’s (worth $2.2 billion USD) investment amounts to an eight percent stake in United Arrows (7606.T) and a six percent stake in Adastria (2685.T). With those unfamiliar with the Adastria name, the company operates stores in Hong Kong, Taiwan and South Korea with in-house labels like Global Work, niko and …, HARE, Lowrey’s Farm, and HEATHER.
Maezawa comments that his move was purely for investment purposes with friendly intentions, and will “make proposals or offer advice to management if needed.”
In other fashion news, Kanye offers another look at YEEZY Gap designs and unreleased footwear.
