Samantha Thavasa Japan Limited announced on April 25 that President Kazumasa Terada will resign while Masaaki Fujita, Vice President will be the successor. The decision is made during the board of directors meeting today. Terada founded Samantha Thavasa Japan Limited in 1994 for the purpose of planning, manufacturing and selling bags. In the same year, he launched Samantha Thavasa, and the first store was opened in Shibuya PARCO. The first flagship was opened in Tokyo in Ginza in 2002. The business has been expanded by actively recruiting overseas celebrities such as Miranda Car, Beyonce, Jennifer Lopez, Victoria Beckham, etc. However, the company recorded a deficit of 3.6 billion yen in the fiscal year ending in February 2018, and its sales in the fiscal year ended in February 2019 fell to 13.7%, down to 27.7 billion yen.