HONEYS HOLDINGS CO.,LTD. (2792) Stock Price

Honeys Holdings Co., Ltd. is a retail group that plans, manufactures, and sells women's clothing and fashion accessories in an integrated manner. The company sells products designed in-house through its consolidated subsidiaries at stores nationwide.

The primary customers are domestic consumers across a wide age range, and the group's revenue is centered on retail sales through directly operated stores. Its subsidiary Honeys operates stores in suburban shopping centers and station buildings, with approximately 872 directly operated stores across the consolidated group.

The majority of the company's sales products are proprietary designs, manufactured through a combination of its own factory in Myanmar and overseas contract manufacturers. The business is built on domestic retail and overseas manufacturing as its pillars, consisting of multiple product lines centered on women's clothing and including fashion accessories.

The company has established a medium-term management plan running through May 2028, with targets of consolidated net sales of 63 billion yen, consolidated operating profit of 7 billion yen, operating margin of 11.1%, ROE of 8.8%, and e-commerce sales ratio of 15.9%. The core growth strategy centers on expanding sales and operating profit through two pillars: steady growth in existing operations and building foundations for new initiatives.

Priority investment areas include strengthening product competitiveness and sales capabilities, opening and renovating stores, expanding e-commerce operations, and establishing operational infrastructure. The company's differentiation strategy leverages its unique SPA model—an integrated system of planning, manufacturing, and sales—and its own manufacturing facility in Myanmar to deliver "high quality at affordable prices." Additionally, the company will acquire customers across both physical stores and e-commerce channels through AI-driven product planning, expanded e-commerce exclusive offerings, and social media marketing.

For new market development and business expansion, the company will pursue brand cultivation and new business formats while continuing to relocate and expand existing stores to high-traffic areas with strong sales and customer acquisition potential. With approximately 872 company-operated stores as its foundation, the company will enhance customer traffic through tailored store layouts by region and customer segment, strategic relocations, and store expansions. By promoting cross-traffic between stores and e-commerce, the company aims to achieve an e-commerce sales ratio of 15.9%.

Regarding technological innovation, the company will advance business digitalization to create integrated customer experiences linking physical and digital channels through sales visibility, optimized inventory management, and strengthened logistics capabilities. Specific initiatives include improving the usability of the company's e-commerce website and app, implementing tools to deliver personalized customer information, and strengthening technological and institutional frameworks for sustainability—including development of environmentally conscious products and climate change disclosure based on TCFD recommendations.