Yoshitsu Co., Ltd. Launches New Offerings to Enter the Luxury and Entertainment Market in Japan and Worldwide
September 13 2023 - 8:00AM
Yoshitsu Co., Ltd ("Yoshitsu" or the "Company") (Nasdaq: TKLF), a
retailer and wholesaler of Japanese beauty and health products, as
well as sundry products and other products in Japan, today
announced that it had entered into a master sales agreement (the
“Agreement”) with RRPA LLC, a luxury and entertainment products
provider in California. The Agreement establishes an important step
in the Company’s efforts to diversify and expand its product
portfolio. This move represents Yoshitsu’s strategic approach to
enter the luxury and entertainment market in Japan and worldwide.
In February 2023, Yoshitsu started building its
luxury watch sector and launched its overseas wholesale division.
In July 2023, Yoshitsu started to sell luxury watches in its
physical stores in Japan. The watch portfolio includes
internationally acclaimed luxury brands, with prices ranging from 1
million yen to several hundred million yen.
Mr. Mei Kanayama, the Principal Executive
Officer of Yoshitsu, commented, “We are in the process of kicking
off our online stores' offering of luxury watches, complemented by
digital presentations. We intend to not only expand our portfolio
but also provide our customers with unprecedented experiences. To
achieve this goal, we are seeking expertise in the luxury watch
area to bolster our team.” He further added, “This is intended to
be not just an expansion, but a reinvention. We expect these
products to be a solid business foundation for our future sales.
Our dedication and commitment to this vision are unwavering.”
About Yoshitsu Co., Ltd
Headquartered in Tokyo, Japan, Yoshitsu Co., Ltd
is a retailer and wholesaler of Japanese beauty and health
products, sundry products, and other products in Japan. The Company
offers various beauty products (including cosmetics, skincare,
fragrance, and body care products), health products (including
over-the-counter drugs, nutritional supplements, and medical
supplies and devices), sundry products (including home goods), and
other products (including food and alcoholic beverages). The
Company currently sells its products through directly-operated
physical stores, through online stores, and to franchise stores and
wholesale customers. For more information, please visit the
Company's website at https://www.ystbek.co.jp/irlibrary/.
Forward-Looking Statements
Certain statements in this press release are
forward-looking statements, within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended, and as defined in
the U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve known and unknown risks and
uncertainties and are based on current expectations and projections
about future events and financial trends that the Company believes
may affect its financial condition, results of operations, business
strategy, and financial needs. Investors can identify these
forward-looking statements by words or phrases such as "may,"
"will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "potential," "continue," "is/are likely to," or
other similar expressions. The Company undertakes no obligation to
update forward-looking statements to reflect subsequent occurring
events or circumstances, or changes in its expectations, except as
may be required by law. In addition, there is uncertainty about the
further spread of the COVID-19 virus or the occurrence of another
wave of cases and the impact it may have on the Company's
operations, the demand for the Company's products, global supply
chains, and economic activity in general. Although the Company
believes that the expectations expressed in these forward-looking
statements are reasonable, it cannot assure you that such
expectations will turn out to be correct, and the Company cautions
investors that actual results may differ materially from the
anticipated results and encourages investors to review other
factors that may affect its future results in the Company's
registration statement and in its other filings with the U.S.
Securities and Exchange Commission.
For more information, please
contact:
Yoshitsu Co., LtdInvestor
Relations DepartmentEmail: ir@ystbek.co.jp
Ascent Investor Relations
LLCTina XiaoPresidentPhone: +1-917-609-0333Email:
tina.xiao@ascent-ir.com
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