Yoshitsu Co., Ltd Plans to Enter into Malaysia Market

Rhea-AI Summary

Yoshitsu Co., Ltd (Nasdaq: TKLF), a retailer of Japanese beauty and health products, announced its entry into the Malaysian market with plans to open several retail stores. The first store, REIWATAKIYA, will launch in Kuala Lumpur by the end of 2022, followed by four additional stores by the end of 2023. This initiative marks a key step in Yoshitsu's strategy to expand its presence in Southeast Asia and enhance its brand recognition. The company aims to leverage its experience in the Asia Pacific to capitalize on opportunities in this fast-growing market.

Positive

• Strategic expansion into the Malaysian market to enhance brand recognition.
• Planned opening of five stores by the end of 2023, indicating growth potential.
• Opportunity to tap into a fast-growing market in Southeast Asia.

Negative

• None.

Tokyo, Japan, June 24, 2022 (GLOBE NEWSWIRE) -- Yoshitsu Co., Ltd (“Yoshitsu” or the “Company”) (Nasdaq: TKLF), a retailer and wholesaler of Japanese beauty and health products, as well as other products in Japan, today announced its plan to enter the Malaysian market by opening several retail stores to provide high-quality products to customers in Malaysia. Establishing a business presence in Malaysia, a critical part of the Company’s global expansion strategy, represents the initial phase of the Company’s strategic efforts to penetrate the Southeast Asia market and increase the Company’s brand recognition and global footprint.

Yoshitsu plans to open its first retail store under the name, REIWATAKIYA, in Kuala Lumpur, Malaysia by the end of 2022, and to open another 4 stores by the end of 2023, with each of such stores expected to be open from 10 a.m. to 10 p.m. The plan represents the first step the Company will be taking to build its business presence in the region. The Company anticipates a broader expansion of its operations into Southeast Asian countries, such as Thailand and Singapore in the future.

Mr. Mei Kanayama, the Principal Executive Officer of Yoshitsu Co., Ltd, commented, “We are pleased to announce our plan to open our stores in Malaysia and excited about the opportunity to serve the local residents with our large variety of Japanese products. We anticipate that our Malaysian operations will enable us to utilize our experience and resources in the Asia Pacific region to seize the opportunities in this fast-growing market. We are determined to provide high-quality Japanese products to the local communities and build the Company’s reputation in the region, as Malaysia is an invaluable market to drive our business forward.”

About Yoshitsu Co., Ltd

Headquartered in Tokyo, Japan, Yoshitsu Co., Ltd is a retailer and wholesaler of Japanese beauty and health products, as well as other products. The Company offers various beauty products (including cosmetics, skin care, fragrance, and body care products), health products (including over-the-counter drugs, nutritional supplements, and medical supplies and devices), and other products (including home goods, 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/irystbek/.

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. 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 SEC.

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

FAQ

What is Yoshitsu Co., Ltd's plan for Malaysia in 2022?

Yoshitsu Co., Ltd plans to open its first retail store, REIWATAKIYA, in Kuala Lumpur by the end of 2022 and four additional stores by the end of 2023.

How many stores will Yoshitsu open in Malaysia?

Yoshitsu plans to open a total of five stores in Malaysia, starting with one in Kuala Lumpur by the end of 2022.

Why is Yoshitsu entering the Malaysian market?

The entry into the Malaysian market is part of Yoshitsu's global expansion strategy to increase brand recognition and business presence in Southeast Asia.

What product categories does Yoshitsu Co., Ltd offer?

Yoshitsu offers a variety of products including beauty products, health products, home goods, and food items.

What is the ticker symbol for Yoshitsu Co., Ltd?

The ticker symbol for Yoshitsu Co., Ltd is TKLF.