Yoshitsu Co., Ltd Developing Shopping App for Global Shoppers

The App is Expected to Offer Shoppers Authentic Japanese Beauty and Sundry Products and Seamless Shopping Experiences.

Tokyo, Japan, June 12, 2023 (GLOBE NEWSWIRE) -- 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 the Company is developing a mobile shopping app named “TOKYOLIFESTYLE” (the “App” ) on the App Store and Google Play focusing on bringing authentic Japanese beauty and sundry products to global consumers, marking a key strategic move by the Company to venture into the global e-commerce market. Featuring wide product availability, customized product recommendations, and convenient shopping experiences, the App is designed to become one of the leading global retail e-commerce platforms, by offering users a distinctive Japanese shopping experience.

Utilizing partnerships with multiple prestigious Japanese brands, the App is expected to bring an extensive selection of beauty products straight from Japan to global consumers. The App is also expected to provide sundry products sourced from Japan, such as kitchen and home accessories and health products. The Company aims to bring authentic, high-quality, and innovative Japanese products via the App and anticipates attracting worldwide shoppers who are fond of Japanese culture and products.

The Company expects to provide convenient and safe shopping experiences to customers by offering user-friendly browse and order features and flexible delivery options on the App, to meet users’ needs for timely, smooth, and reliable deliveries. Meanwhile, the developers of the App will focus on payment technologies that address App security safeguards. The App is set to enter the closed beta testing phase in mid to late October 2023, where user feedback and suggestions will be collected for the Company to refine the App’s features and improve user experiences. The Company is now inviting qualified customers to participate in the closed beta test, which is estimated to last for two months.

Mr. Mei Kanayama, Principal Executive Officer of Yoshitsu, stated with enthusiasm, “We are excited about the progress of the App development. Through wide partnerships with Japanese brands, we believe the App will stand out with broad product diversity and strong quality control. We aim to bring users of the App an unparalleled and seamless shopping experience with rich product selection and customized and targeted product recommendations based on user preferences. In the future, we expect to expand our business lines by introducing more region-specific and distinctive items to cater to diverse user preferences and tastes. We also expect to establish additional brand partnerships, while implementing rigorous product selection and quality control measures to ensure customer satisfaction. We anticipate seizing opportunities for the offering of additional Japanese products in the global market, to show the world the quality of Japanese products, while propelling our global business growth to generate more 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, 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

All statements other than statements of historical fact 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., Ltd
Investor Relations Department
Email: ir@ystbek.co.jp

Ascent Investors Relations LLC

Tina Xiao
President
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com