Yoshitsu Co., Ltd Announces Opening of New “Reiwatakiya” Store in Fashion Show Las Vegas, Strengthening U.S. Market Presence

Rhea-AI Summary

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.

Positive

• Strategic expansion into prime retail location on Las Vegas Strip
• Large retail space of 2,328 square feet in high-traffic shopping center
• Potential exposure to diverse international customer base in major tourist hub

Negative

• None.

Insights

Market Research Analyst

The new store opening in Las Vegas marks a strategic expansion but comes with mixed implications. While Fashion Show mall's prime location on the Strip offers high foot traffic exposure to both tourists and locals, the 21.8M market cap company faces significant challenges. The 2,328 sq ft store represents a substantial investment in a highly competitive market where retail space commands premium rates.

The timing is concerning - Las Vegas retail has been experiencing shifting dynamics with increased competition from e-commerce and changing consumer preferences. Japanese beauty products face established competitors like Sephora and Ulta Beauty, while operating costs in premium locations can strain smaller retailers. Without disclosed financial projections or investment costs, it's difficult to gauge the potential return on investment. The expansion appears ambitious relative to the company's current market capitalization.

TOKYO, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Yoshitsu Co., Ltd (“Yoshitsu” or the “Company”) (Nasdaq: TKLF), a retailer and wholesaler of Japanese beauty and health products, sundry products, luxury products, electronic products, as well as other products in Hong Kong, Japan, North America, and the United Kingdom, today announced the upcoming opening of a new store under its “Reiwatakiya” brand (the “Store”) at Fashion Show Las Vegas (“Fashion Show”). The Store is set to open in November 2024 at Fashion Show, a premier shopping, dining, and entertainment destination on the Las Vegas Strip. This move is expected to further strengthen the Company’s presence in the U.S. market and enhance global brand recognition.

The Store, located at Space No. 2015 in the Fashion Show shopping center, spans approximately 2,328 square feet and is surrounded by a variety of fashionable and trendy retailers. It aims to attract both tourists and younger generations by offering a wide selection of Japanese cosmetics, skincare products, fragrances, health and beauty items, body care products, as well as trendy toys and art products. The official opening date is scheduled for November 11, 2024.

Mr. Mei Kanayama, Principal Executive Officer of Yoshitsu, commented, “We are excited to announce the upcoming opening of our new store in Las Vegas. This milestone represents a significant strategic step for the Company as we are establishing a stronger foothold in the U.S. market. Las Vegas, known globally as a hub for tourism, entertainment, and business conferences, provides an ideal platform for us to showcase our brand to a diverse and substantial audience. By reaching out to vibrant young consumers and aligning with the city’s reputation for innovation and cutting-edge trends, we are confident that this new retail location will greatly enhance our brand’s influence. Looking ahead, we remain optimistic about our U.S. expansion strategy, which we believe will inject new momentum into our global business and drive value for our shareholders.”

About Yoshitsu Co., Ltd

Headquartered in Tokyo, Japan, Yoshitsu Co., Ltd is a retailer and wholesaler of Japanese beauty and health products, sundry products, luxury products, electronic products, and other products in Hong Kong, Japan, North America, and the United Kingdom. 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. 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., Ltd
Investor Relations Department
Email: ir@ystbek.co.jp

Ascent Investor Relations LLC
Tina Xiao
President
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

FAQ

When will Yoshitsu (TKLF) open its new Reiwatakiya store in Las Vegas?

Yoshitsu's new Reiwatakiya store is scheduled to open on November 11, 2024, at Fashion Show Las Vegas.

How large is Yoshitsu's (TKLF) new Reiwatakiya store in Fashion Show Las Vegas?

The new Reiwatakiya store spans approximately 2,328 square feet and is located at Space No. 2015 in Fashion Show Las Vegas.

What products will Yoshitsu (TKLF) sell at its new Las Vegas store?

The store will offer Japanese cosmetics, skincare products, fragrances, health and beauty items, body care products, and trendy toys and art products.