Tokyo Lifestyle Co., Ltd. American Depositary Shares - TKLF STOCK NEWS

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.

Yoshitsu Co., Ltd (Nasdaq: TKLF) reported unaudited financial results for the first half of fiscal year 2023, ending September 30, 2022. Revenue decreased by 31.8% to $77.6 million, down from $113.8 million year-over-year, primarily due to declines in online sales due to COVID-19 impacts in China. Gross profit fell by 25.5% to $14.6 million, with net income down 85.0% to $0.3 million. However, revenue from franchise stores and wholesale customers grew by 9.7% to $49.8 million. The company is optimistic about future growth as it expands into Europe and America and enhances its product offerings with local food products.

Yoshitsu Co., Ltd (Nasdaq: TKLF), a retailer and wholesaler of Japanese beauty and health products, has announced an earnings call set for 8:30 am U.S. Eastern Time on March 24, 2023. The financial results for the first six months of the fiscal year 2023 will be released before the market opens on the same day. Investors are encouraged to dial in at least 15 minutes early to participate in the call. An audio replay will be available until March 31, 2023. This event highlights the Company's ongoing commitment to transparency and engagement with investors regarding its financial performance.

Yoshitsu Co., Ltd (Nasdaq: TKLF) announced plans to expand its product line by adding a diverse food product segment, aiming to boost sales and profitability. This follows the previous plan to introduce sauces and condiments by the end of 2022. Starting January 2023, the company will offer various food items in its Nishi Kawaguchi store, leveraging the projected growth of Japan's food market, which is expected to reach $687.60 billion in 2023.

Yoshitsu's new offerings aim to complement its existing products and enhance customer experience.

Yoshitsu Co., Ltd (Nasdaq: TKLF) has expanded its duty-free shopping services in Japan, capitalizing on the rebound of inbound tourism. The company launched pickup services on November 11, 2022, at select stores in Saitama and Nagano. It also partnered with iEnt Co., Inc. to enhance its online duty-free shopping offerings. Following Japan's reopening to travelers on October 11, the government targets an annual tourist spending of 5 trillion yen ($34 billion). Yoshitsu plans promotional activities to attract more foreign visitors.

Yoshitsu Co., Ltd (Nasdaq: TKLF) has announced plans to enter the sauce, dressing, and condiment market, leveraging its existing retail network in Japan. The Company will change the name of its operating entity to Kaika International Co., Ltd to reflect this expansion. The Japanese condiment market is projected to reach US$21.44 billion in 2022, growing at a CAGR of 1.48% through 2027. CEO Mei Kanayama emphasized the importance of diversifying product offerings to enhance customer satisfaction and business growth.

Yoshitsu Co., Ltd (Nasdaq: TKLF), a retailer and wholesaler of Japanese beauty and health products, announced a JPY8.15 billion (approximately US$55.82 million) revolving credit facility agreement on September 27, 2022, with a syndicate led by MUFG Bank and Mizuho Bank. This agreement aims to support the company’s growth initiatives and features a competitive interest rate of TIBOR plus 0.7%. Secured by accounts receivable and guaranteed by CEO Mei Kanayama, the facility allows for strategic reinvestment and operational scaling, with an expiration date set for September 29, 2023.

Yoshitsu Co., Ltd (Nasdaq: TKLF) has opened its first warehouse in London, UK, with operations commencing on October 15, 2022. The 2,362 square-foot facility will enhance the company's logistics and customer service across Europe. Capable of storing 30,000 to 50,000 items across 100 product categories, it aims to support increasing demand for Japanese beauty and health products. This move follows the establishment of a warehouse in the US, emphasizing Yoshitsu's strategy to expand its global presence and improve operational efficiency in key markets.