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Yoshitsu Co., Ltd (Nasdaq: TKLF) is a renowned retailer and wholesaler of Japanese beauty and health products, with a diverse portfolio that includes cosmetics, skincare, fragrance, and body care products. Established in Tokyo, Japan, Yoshitsu has expanded its reach to Hong Kong, mainland China, North America, and the United Kingdom.
The company operates through three main segments: Directly-Operated Physical Stores, Online Stores and Services, and Franchise Stores and Wholesale Customers, with the latter generating the maximum revenue. Yoshitsu’s business model also includes selling sundry products, luxury items, electronic goods, and more.
In the first half of fiscal year 2024, Yoshitsu reported a revenue of $74.2 million, a slight decrease from $77.6 million in the previous year. However, revenue from directly-operated physical stores saw a significant increase of 99.0%, reaching $11.6 million. This growth was primarily driven by the introduction of new luxury products and the opening of new stores in Japan and Hong Kong. On the other hand, revenue from online stores decreased by 63.2% due to a strategic shift to entrust operations to third-party companies.
Yoshitsu is committed to an asset-light business model, which has streamlined its operational efficiency and supported its franchise expansion in Japan. The company believes this strategy will enhance its market presence, optimize revenue streams, and improve overall profitability. Despite the challenges, Yoshitsu’s net income saw a remarkable increase of 496.6%, reaching $2.0 million compared to $0.3 million in the previous year.
As of September 30, 2023, Yoshitsu had a cash balance of $2.8 million and an accounts receivable balance of $74.2 million, with significant collection efforts underway. The company also reported a notable increase in gain from foreign currency exchange and other income due to favorable financial conditions.
Looking forward, Yoshitsu aims to continue its global expansion, bringing innovative products to market, and maintaining a strong commitment to its shareholders. The company’s strategic focus on financial stability and sustainable growth remains a top priority.
Tokyo Lifestyle (Nasdaq: TKLF), a retailer and wholesaler of Japanese products, has been awarded the gold prize in the 'Company Categories' at the Best in Biz Awards 2024 International. The company, which specializes in beauty, health, luxury, and electronic products across Hong Kong, Japan, North America, and the United Kingdom, received this recognition from a panel of prominent press members.
Principal Executive Officer Mei Kanayama expressed honor at receiving this prestigious award, highlighting it as validation from the market and media industry for their efforts in brand expansion and global presence. The company's success is attributed to their focus on product quality, service excellence, and customer loyalty, which has enabled their evolution from a regional retailer to a global player.
The company maintains its commitment to implementing growth strategies and pursuing its long-term vision to create enhanced value for customers, partners, and shareholders.
Tokyo Lifestyle (Nasdaq: TKLF), a retailer and wholesaler of Japanese products, has been awarded a Gold Globee® Award in the 'Company of the Year - Consumer Products or Services' category at the 14th Annual 2024 Globee® Awards for Business (International). The company, which operates in Hong Kong, Japan, North America, and the United Kingdom, specializes in beauty, health, sundry, luxury, and electronic products.
The Globee® Awards for Business is a prestigious international recognition program that celebrates achievements across various industries worldwide, honoring excellence and innovation in different sectors. Principal Executive Officer Mei Kanayama highlighted that this award represents market recognition of their growth strategies and operational excellence, emphasizing their commitment to strategic planning, adaptable growth initiatives, and customer loyalty.
Despite market volatility, the company remains focused on maintaining growth through innovative products and exceptional services while expanding their global retail presence.
Tokyo Lifestyle (NASDAQ: TKLF) announced plans to open a new directly-operated physical store in Wan Chai, Hong Kong, scheduled for mid-January 2025. The store will be located at Shop 340-341, 3/F, Hopewell Mall, offering Japanese beauty, health, sundry, luxury, and electronic products.
The strategic location near a subway station and major public transportation hubs is surrounded by office buildings, residential areas, and hotels, potentially benefiting from high foot traffic. The company aims to strengthen its market presence and enhance brand recognition in Hong Kong through this expansion.
Principal Executive Officer Mei Kanayama emphasized that the new store represents a strategic milestone in reinforcing their brand presence, focusing on delivering high-quality fashion and lifestyle products to retain loyal customers and attract new shoppers.
Tokyo Lifestyle (NASDAQ: TKLF) reported strong financial results for H1 FY2025. Total revenue increased 32.1% to $98 million, with income from operations surging 867.8% to $3.2 million. Revenue from franchise stores and wholesale customers grew 53.8% to $86.9 million, supported by a 16.7% expansion in SKUs to 165,200.
The company's wholesale customer and franchisee base expanded from 171 to 201. Japan accounted for 71.7% of total revenue, while Hong Kong and other regions contributed 28.3%. Despite this growth, net income decreased 31.6% to $1.3 million, with EPS of $0.03 compared to $0.05 in the previous year. The company maintained a stable gross margin exceeding 12% and reduced operating expenses by 2.2%.
Tokyo Lifestyle (Nasdaq: TKLF), a retailer and wholesaler of Japanese beauty, health, and sundry products in Hong Kong, Japan, North America, and the United Kingdom, has announced it will release its unaudited financial results for the first six months of fiscal year 2025 before the U.S. market opens on December 18, 2024.
The Company will host an earnings conference call at 8:30 am U.S. Eastern Time (10:30 pm Japan Standard Time) on the same day. The call will be accessible via international dial-in (1-412-902-4272), U.S. toll-free (1-888-346-8982), and Japan toll-free (0066-33-1-33094) numbers. An audio replay will be available until December 25, 2024, and a webcast will be accessible through the Company's investor relations website.
Tokyo Lifestyle (Nasdaq: TKLF) has launched a new online sales platform for its Reiwatakiya brand in Canada, accessible at reiwatakiyatoronto.com. The platform serves as a comprehensive online destination for North American customers, offering authentic Japanese health, beauty, and lifestyle products with local shipping options across North America. This initiative marks a significant milestone in the company's regional expansion strategy, aiming to strengthen the brand's influence and establish a foundation for growth in the North American market.
Tokyo Lifestyle (Nasdaq: TKLF) has launched a new online sales platform for its Reiwatakiya brand in the UK, accessible at reiwatakiya.uk. The platform will serve as a centralized hub for European customers to purchase Japanese health, beauty, and lifestyle products with local shipping options across Europe. This initiative represents a strategic expansion of the company's European presence, aiming to enhance brand recognition and customer loyalty while providing convenient access to Japanese lifestyle and cultural products.
Tokyo Lifestyle Co., (TKLF) announced a change in the ratio of its American Depositary Shares (ADSs) from one ADS representing one ordinary share to one ADS representing 10 ordinary shares, effective November 15, 2024. This ADS Ratio Change will function as a one-for-ten reverse ADS split, aimed at supporting liquidity and regaining compliance with Nasdaq's minimum bid price requirement.
On the Effective Date, holders of certificated ADSs must surrender them for cancellation and receive one new ADS for every 10 existing ADSs. Uncertificated ADSs will be automatically exchanged. Fractional new ADSs will not be issued; instead, fractional entitlements will be sold, and net cash proceeds distributed to ADS holders. The company expects the ADS trading price to increase proportionally but provides no assurance of this outcome.
Tokyo Lifestyle (Nasdaq: TKLF) has announced a 5-year cooperation agreement with Crossing to establish a joint venture named CROSSING CARDS CO., focused on trading card retail business. The JV involves a total investment of JPY 10 million (USD 0.66 million), with Tokyo Lifestyle holding 30% equity and Crossing 70%. Profit distribution will be split 50-50 between shareholder dividends and development funds. The partnership aims to capitalize on the growing trading card market, which is projected to reach USD 1.57 billion by 2032, with the Asia-Pacific region holding the largest market share.
Yoshitsu (Nasdaq: TKLF) announced the opening of a new 'Reiwatakiya' store at Fashion Show Las Vegas, scheduled for November 11, 2024. The 2,328-square-foot store, located at Space No. 2015, will offer Japanese cosmetics, skincare products, fragrances, health and beauty items, body care products, and trendy toys. This strategic expansion aims to strengthen the company's U.S. market presence by targeting tourists and younger generations in Las Vegas, a major hub for tourism and entertainment.
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