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Billionaire Yusaku Maezawa to sell his Zozo stakes to Yahoo Japan

Nabanita Dutta

News Editor

Yusaku Maezawa, a Japanese billionaire, has decided to sell most of his stakes from online fashion brand Zozo to Yahoo Japan. Even though Zozo is a popular online retail brand, in recent time, it is struggling to make profits. Yusaku's decision came as part of a deal worth $3.7 bn. He will also step down from his position in Zozo while Yahoo Japan will be a better position to compete with Amazon and Rakuten in the market.