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At stake is a $120 billion fashion market that was almost entirely dominated by brick-and-mortar stores until a few years ago, but is transforming amid the proliferation of smartphones and home delivery. Online fashion sales have grown to over 10 percent of the total Japanese market in the past few years - with Zozotown at the head of the pack - and are likely to surpass 20 percent in three years, according to Nomura Securities. There needs to be a second player, and we are
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