VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

ZOZO, Inc. vs Greggs plc

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)$5.9B
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

Greggs plc

GRG · London Stock Exchange

Market cap (USD)$2.2B
Gross margin (TTM)61.6%
Operating margin (TTM)9.4%
Net margin (TTM)6.6%
SectorConsumer
IndustryGrocery Stores
CountryGB
Data as of2026-01-31
Moat score
64/ 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 Greggs plc's moat claims, evidence, and risks.

View GRG analysis

Comparison highlights

  • Moat score gap: Greggs plc leads (64 / 100 vs 63 / 100 for ZOZO, Inc.).
  • Segment focus: ZOZO, Inc. has 5 segments (71.3% in ZOZOTOWN Business); Greggs plc has 2 segments (88.4% in Retail company-managed shops).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: ZOZO, Inc. has 5 moat types across 3 domains; Greggs plc has 5 across 2.

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%

Greggs plc

Retail company-managed shops

Market

UK food-to-go retail (bakery/QSR) sold through company-operated shops and delivery

Geography

United Kingdom

Customer

Consumers (end customers)

Role

Retailer and vertically integrated manufacturer-distributor

Revenue share

88.4%

Side-by-side metrics

ZOZO, Inc.
Greggs plc
Ticker / Exchange
3092 - Tokyo Stock Exchange
GRG - London Stock Exchange
Market cap (USD)
$5.9B
$2.2B
Gross margin (TTM)
90.9%
61.6%
Operating margin (TTM)
30.3%
9.4%
Net margin (TTM)
20.7%
6.6%
Sector
Consumer
Consumer
Industry
Specialty Retail
Grocery Stores
HQ country
JP
GB
Primary segment
ZOZOTOWN Business
Retail company-managed shops
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
64 / 100
Moat domains
Network, Supply, Demand
Supply, Demand
Last update
2025-12-30
2026-01-31

Moat coverage

Shared moat types

No overlap yet.

ZOZO, Inc. strengths

Two Sided NetworkOperational ExcellenceDistribution ControlSwitching Costs GeneralInstalled Base Consumables

Greggs plc strengths

Physical Network DensitySupply Chain ControlBrand TrustHabit DefaultLong Term Contracts

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%

Greggs plc segments

Full profile >

Retail company-managed shops

Competitive

88.4%

Business-to-business (franchise & wholesale)

Competitive

11.6%

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.