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Tag: Yoshitsu

  • Yoshitsu opens physical store in Hong Kong

    Yoshitsu opens physical store in Hong Kong

    Yoshitsu, a retailer and wholesaler of Japanese beauty and health products, as well as sundry products and other products in Japan, today announced the grand opening of its physical retail store (the “Store”) in Hong Kong on August 30, 2022. The Store is located at No. 118, 1/F, Nina Tower 1, No. 8 Yeung Uk Road, Tsuen Wan, New Territories, Hong Kong, an iconic shopping destination. The opening hours are from 11 a.m. to 8 p.m. on Monday – Thursday, and 12 p.m. to 9 p.m. on Friday – Sunday.

    The opening of the Store is a part of the Company’s long-term expansion plan to expand its footprint in Hong Kong. The Store features an extensive product assortment, including cosmetics, skincare, fragrances, cosmetic applicators and body care products. Customers will not only have a large selection of exclusive Japanese brands, but also receive personalized beauty assistance with finding new and trending products.

    Mr. Mei Kanayama, the Principal Executive Officer of Yoshitsu Co., Ltd, commented, “We are thrilled to bring our new store closer to more of our customers in Hong Kong. Providing a remarkable customer experience is the top priority for our business, and we will try to bring the best shopping experience to every customer. To celebrate its grand opening, the new store in Hong Kong will offer 5% off from the opening day to September 15, 2022. We are planning to have two more new stores open in Hong Kong in the remainder of 2022 and are excited to bring the beauty experience we offer to more new customers. We believe that our expansion strategy is in line with our goal to increase market share and achieve long-term growth.”

  • Japanese retailer Yoshitsu buys Tokyo Lifestyle

    Japanese retailer Yoshitsu buys Tokyo Lifestyle

    Yoshitsu Co., Ltd (“Yoshitsu” or the “Company”) (Nasdaq: TKLF), a retailer and wholesaler of Japanese beauty and health products, as well as other products in Japan, today announced that on July 20, 2022, the Company entered into a definitive agreement (the “Agreement”) with All Seas Global Limited to acquire 100% equity interests in Tokyo Lifestyle Limited (“TL”), a company principally engaged in the import and retail of Japanese beauty and cosmetic products in Hong Kong and engaged in the live e-commerce business through its wholly-owned subsidiary, Shenzhen Qingzhiliangpin Network Technology Co., Ltd. (“SQNT”). This acquisition is a critical initiative of the Company’s business strategy to boost the Company’s business expansion in the Southeast Asia market and advance the digital transformation of live streaming e-commerce in its retail business.

    Pursuant to the Agreement, Yoshitsu agrees to acquire 100% of the equity interests in TL in consideration of the sum of JPY392,000,000 in cash (approximately US$2,805,192), subject to certain terms. The transaction contemplated by the Agreement was approved by the Company’s board of directors at a meeting on June 27, 2022, with the closing expected to occur by the end of July 2022.

    Mr. Mei Kanayama, the Principal Executive Officer of Yoshitsu, commented, “We are extremely pleased to take another initiative in Yoshitsu’s global business expansion. The capabilities of TL and SQNT and our expansion and digital transformation strategy are well matched. With the acquisition of TL, we expect to improve our operational efficiency and establish a solid foundation in Hong Kong to develop the Southeast Asian market further and strengthen our brand awareness in the region. SQNT is dedicated to cultivating key opinion leaders (“KOLs”), who are frequently approached by brands in the hopes that these KOLs will actively promote their products via online channels. The foregoing strategy is expected to improve our customers’ shopping experience and meet new market demands. We expect the acquisition of TL to strengthen our position in the marketplace and deliver higher value to our shareholders.”

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