Yahoo Japan plans tender offer for retailer Zozo at $3.7B

Yahoo Japan is putting up a $3.7 billion tender offer for Japanese online retailer Zozo, whose celebrity founder will step down as chief executive, mariyamaguchi reports.

TOKYO — Yahoo Japan Corp. is putting up a tender offer, estimated at 400 billion yen , for Zozo Inc., a Japanese online retailer started by a celebrity tycoon.Zozo Chief Executive Yusaku Maezawa is known for lavish spending on artworks by Jean-Michel Basquiat, a Stradivarius violin and a future trip to the moon.

He started out running an import CD business and played in a rock band before he started his online fashion business with a shopping site called Zozotown when online retailing was still new in Japan. Zozo, whose tagline is: “Be unique. Be equal,” said in a statement that, by becoming a subsidiary of Yahoo Japan, it will gain stability and a solid partner.

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