BUYMA
👤 Shokei Suda (Ex-Hakuhodo marketing strategist, Keio CS grad; co-built BUYMA and made trust — not tech — the edge.)🌐 site
Japan's cross-border fashion marketplace: a global crowd personal-shops luxury abroad, BUYMA guarantees it's real.
Will it work? · our read
Trust wins. Trust, not code, is the moat: 20 years of authenticity guarantee and escrow. But it's discretionary luxury — a weak yen and travel recovery pulled buyers back, and revenue slid.
01How the money moves
Shoppers abroad list luxury, zero inventory
→
Buyer orders; escrow + authenticity guard the deal
→
BUYMA takes about 5% buyer + 5-7% shopper fee
02The numbers
¥6.3B (about $41M)FiledNet revenue, FY Jan 2026
2026-01
the sentence on the page
FYE Jan 2027 non-consolidated basis Q1 FYE Jan 2027 consolidated basis Q1 253.77 264.26 298.80 287.11 316.34 295.34 355.52 263.51 Quarterly Earnings Per Share FYE Jan 2023 Q1 FYE Jan 2024 Q1 FYE Jan…
GMV (turnover) is not revenue: Enigmo books only its commission. Enigmo IR
¥6.3B net revenue on ¥49.4B GMV, FY ended Jan 2026 (TSE: 3665).
🔒
You have the verdict. Members get the work behind it.
- The CENTS scorecard — where it's strong, where it's soft
- The founder's key move, and the counter-move
- How it could die — the evidence, and how sure we are
- The case against our own call
- A 🚀 launchpad prompt — the case, as a plan for your business
We rate our own confidence — and argue against ourselves. Nobody else in this category does.
Sources always public on all 560 cases · cancel anytime · 14-day refund
See a full teardown, free → ImportYetiSourcesSources last checked 25 August 2026
Enigmo IR — financial highlights revenue, GMV, membersEnigmo — company history founded 2004, BUYMA 2005, IPO 2012TDnet — FY Jan 2026 supplementary financialsFastGrow — Suda founder interview ex-HakuhodoFashionNetwork — BUYMA US launch
Revenue (¥6.3B), GMV (¥49.4B) and members (12.0M) are from Enigmo's own FY-ended-Jan-2026 IR — FILED, verified (TSE: 3665). Shopper count (about 244k, 185 countries) and 5.8M items are company-stated; some third-party pages cite lower figures (110k), so treat the shopper count as Enigmo's own. Founder background (ex-Hakuhodo, Keio CS) is from Japanese founder interviews. Take rate (about 5% buyer + 5-7% shopper) is from secondary sources; the combined "about 10-12%" is [our read]. No X or personal link for the founder was confirmed, so none is listed. We never score you.