Early Life
Yusaku Maezawa was born in Kamagaya, Japan, on November 22, 1975. He attended Waseda Jitsugyo High School, where he formed a hardcore punk band named Switch Style. The band released an EP in 1993. After graduating from high school, he moved to the United States. During his time there, he started collecting CDs and records, which later became the foundation for his business ventures.
Rise to Success
In 1998, Maezawa founded Start Today, using his CD and record collection as the basis for a mail-order business. The same year, his band signed with BMG Japan. By 2000, Start Today transitioned to an online platform and began selling clothing. In 2004, he launched Zozotown, an online fashion retail website that became Japan's largest. Start Today became a publicly traded company in 2010 and was listed on the Tokyo Stock Exchange in 2012. Maezawa introduced the ZOZO custom-fit clothing brand and ZOZOSUIT at-home measurement system in 2018. In September 2019, he resigned as CEO of Zozo after selling a major stake to Yahoo Japan.
Key Business Strategies
Maezawa's key business strategy involved leveraging online platforms and technology to revolutionize the fashion industry. He focused on creating a user-friendly online shopping experience with Zozotown. Furthermore, the introduction of the ZOZO brand and the ZOZOSUIT, which allowed for custom-fit clothing, set his company apart. Maezawa’s ability to adapt to market trends and embrace technological advancements allowed him to stay ahead in a competitive market.
Philanthropy
Maezawa established the Contemporary Art Foundation in Tokyo in 2012. The foundation's goal is to support young artists. He also made headlines for his record-breaking art purchases. In 2020, he announced a social experiment to give away $9 million to his Twitter followers to study the effects of universal basic income.