- Kristopher Fraser
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Japan’s Zozo Inc. is engineering a turnaround plan. After their
body-measuring Zozo suit failed to drive sales, and executives came under
fire for overly ambitious targets for the product, resulting in it being
phased out entirely, Zozo is going through a rebirth of sorts. While the
Zozo suit wasn’t seen as a complete failure, the company is reconsidering
how to approach their made-to-measure services, but in the meantime, they
told Reuters they are concentrating on shoring up their online mall.
Zozo is currently recruiting engineers to make shopping online more
tailored to a user’s preference and work on advertising. In the past year,
Zozo technologies hired just under 100 people mostly engineers, bringing
the company’s headcount to 280. The company plans to hire another 100
people this year.
Zozo, which secured a 135 million dollar commitment line from banks, will
be reporting its finances on Thursday. Operating profits are expected to
have dropped, and cash-and-deposits are also expected to have fallen, as
reported by Business of Fashion. Zozo’s stocks have slid 60 percent to 5.8
billion dollars since its peak last July.
