Komehyo Holdings, the operator of Japan's largest chain of secondhand-luxury shops, posted June sales of ¥21.26bn for its core Brand and Fashion business, up 30.5% from a year earlier. That marks a sharp slowdown from April's 51.5% jump and May's 50.5% gain. Cumulative sales for the quarter through June reached ¥64.21bn, up 43.6% from the same period last year.
| Period | Net sales | Year-on-year change | Retail ratio |
|---|---|---|---|
| April | ¥21.41bn | +51.5% | 45.3% |
| May | ¥21.55bn | +50.5% | 45.8% |
| June | ¥21.26bn | +30.5% | 45.2% |
| Q1 cumulative | ¥64.21bn | +43.6% | 45.4% |
The mix behind the headline number held up better than the growth rate suggests. June's retail ratio, the share of sales sold directly to consumers rather than through wholesale auction, rose to 45.2% of the total, against 38.7% a year earlier. Duty-free sales, a proxy for tourist spending, made up 15.9% of June's revenue, down slightly from 17.9% in April and 17.3% in May but still running near one-sixth of the top line for the quarter. Komehyo said retail sales exceeded its internal plan, helped by strong buybacks from individual sellers: those purchases brought in ¥9.26bn in June, up 29.7%, and ¥30.4bn for the quarter, up 36.6%.
Wholesale auctions told a more mixed story. Gemstone prices stayed soft as gold prices kept falling, though branded jewelry sales grew. Watch demand held up broadly but softened for popular models. Bags kept the momentum they built in May. Komehyo opened three new buy-only stores in Japan during the month, including franchise locations.
The company flagged the figures as preliminary and unaudited, subject to revision once its full quarterly accounts are finalized.