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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.
Yoshitsu Co., Ltd (Nasdaq: TKLF), a retailer of Japanese beauty and health products, announced that Prometheus Capital Fund I, L.P. acquired 2,063,300 ordinary shares, representing about 5.7% of its issued shares as of April 5, 2023. Prometheus Capital, the Fund's general partner, specializes in early-to-growth-stage investments across technology, media, and consumer sectors, managing $1 billion in assets. Yoshitsu's Principal Executive Officer, Mr. Mei Kanayama, expressed excitement regarding this new institutional investment, viewing it as a recognition of the company's brand and value creation potential for shareholders. Yoshitsu operates in various product sectors, including cosmetics, health products, and food, through physical and online stores along with wholesale channels.
Yoshitsu Co., Ltd (Nasdaq: TKLF) has announced the implementation of a marketing strategy utilizing Key Opinion Leaders (KOLs) through its subsidiary Shenzhen Qingzhiliangpin. This move targets China's booming e-commerce live streaming market, which is projected to surpass $700 billion by the end of 2023. In the year ending January 2023, the KOL advertising segment generated revenue of $2.13 million with a profit margin of 70%. The firm anticipates sales revenue exceeding $3 million for fiscal year 2023, leveraging the influencer market's growth. Yoshitsu aims to enhance profitability while scaling its operations on major platforms like Douyin and Kuaishou, following its acquisition of Qingzhiliangpin in July 2022.
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