J-Star acquires Japanese homeware brand

This is the sixth acquisition in 2020 for the firm’s fourth lower middle-market fund, which closed at the hard cap of JPY48.5 billion ($467 million) in November last year. Check sizes typically fall in a range of JPY1-3 billion.

Shirayuki Fuukin specializes in decorative kitchen towels and dishcloths made from quality materials, especially a traditional gauze-like fabric known as kaya. They are marketed for their absorbency, softness, and lasting whiteness; Shirayuki means Snow White in Japanese. Visual design is also an important feature. There is an emphasis on traditional Japanese motifs, such as cherry blossom patterns, and the use of traditional yuzen dying techniques, which mimic hand-painting.

J-Star will help update product development, marketing, and branding, though the firm noted these initiatives will be pursued while paying attention to a core identity based on the aesthetics of antiquity. Shirayuki Fuukin is headquartered in Nara, Japan’s capital during the 8th century and renowned as an ancient fabric production center. One of the company’s key marketing messages is that its products are used to clean Todaiji Temple’s Great Buddha in Nara during an annual purification ceremony. 

In addition to hand towels, Shirayuki Fuukin produces a range of kitchen accessories and homewares. Most products are marketed by emphasizing the qualities of loomed kaya mesh cloth, which is said to be stain and odor resistant. According to a statement, Shirayuki Fuukin has the largest market share in its niche, with distribution via more than 700 shops as of April.

Previous investments by J-Star’s fourth fund include aquaculture industry supplier Dainichi, IT industry jobs search platform Gino, and recycling and waste management operator Sincere. Experience in the textiles space includes Tokai Trim, which cuts and sews seat covers for major domestic automotive manufacturers. J-Star exited the company last year to domestic hotel chain operator Rembrandt Holdings.

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• Topics
• North Asia
• Consumer
• Buyouts
• Japan
• J-Star
• manufacturing