VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

ZOZO, Inc. vs EssilorLuxottica

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

ZOZO, Inc.

3092 · Tokyo Stock Exchange

Market cap (USD)$955.5B
Gross margin (TTM)90.9%
Operating margin (TTM)30.3%
Net margin (TTM)20.7%
SectorConsumer
IndustrySpecialty Retail
CountryJP
Data as of2025-12-30
Moat score
63/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into ZOZO, Inc.'s moat claims, evidence, and risks.

View 3092 analysis

EssilorLuxottica

EL · Euronext Paris

Market cap (USD)$110.3B
Gross margin (TTM)61.5%
Operating margin (TTM)12.4%
Net margin (TTM)8.5%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryFR
Data as of2026-01-11
Moat score
69/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into EssilorLuxottica's moat claims, evidence, and risks.

View EL analysis

Comparison highlights

  • Moat score gap: EssilorLuxottica leads (69 / 100 vs 63 / 100 for ZOZO, Inc.).
  • Segment focus: ZOZO, Inc. has 5 segments (71.3% in ZOZOTOWN Business); EssilorLuxottica has 2 segments (52.7% in Direct to Consumer).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: ZOZO, Inc. has 5 moat types across 3 domains; EssilorLuxottica has 5 across 3.

Primary market context

ZOZO, Inc.

ZOZOTOWN Business

Market

Japan online fashion marketplace and resale (ZOZOTOWN)

Geography

Japan

Customer

Consumers (buyers) and fashion brands/retailers (sellers/tenants)

Role

Marketplace operator + retailer (mix of consignment, inventory retail, and used sales)

Revenue share

71.3%

EssilorLuxottica

Direct to Consumer

Market

Optical retail and e-commerce (prescription eyewear and sunglasses)

Geography

Global

Customer

Consumers (end-users)

Role

Omnichannel retailer + vertically integrated manufacturer/brand owner

Revenue share

52.7%

Side-by-side metrics

ZOZO, Inc.
EssilorLuxottica
Ticker / Exchange
3092 - Tokyo Stock Exchange
EL - Euronext Paris
Market cap (USD)
$955.5B
$110.3B
Gross margin (TTM)
90.9%
61.5%
Operating margin (TTM)
30.3%
12.4%
Net margin (TTM)
20.7%
8.5%
Sector
Consumer
Healthcare
Industry
Specialty Retail
Medical - Instruments & Supplies
HQ country
JP
FR
Primary segment
ZOZOTOWN Business
Direct to Consumer
Market structure
Oligopoly
Competitive
Market share
18%-22% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
69 / 100
Moat domains
Network, Supply, Demand
Legal, Supply, Demand
Last update
2025-12-30
2026-01-11

Moat coverage

Shared moat types

Distribution Control

ZOZO, Inc. strengths

Two Sided NetworkOperational ExcellenceSwitching Costs GeneralInstalled Base Consumables

EssilorLuxottica strengths

IP Choke PointScale Economies Unit CostBrand TrustContractual Exclusivity

Segment mix

ZOZO, Inc. segments

Full profile >

ZOZOTOWN Business

Oligopoly

71.3%

LY Corporation Commerce

Competitive

10%

BtoB business

Competitive

1%

Advertising business (ZOZOAD / WEAR reach monetization)

Monopoly

5.3%

Others (platform services, shipping/settlement fees, and options)

Monopoly

12.4%

EssilorLuxottica segments

Full profile >

Professional Solutions

Oligopoly

47.3%

Direct to Consumer

Competitive

52.7%

Want the full wide moat stocks list?

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.