Yoshitsu Co., Ltd. Announces the Establishment of New Subsidiaries in the U.S.

Tokyo, Japan, Nov. 03, 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 Hong Kong, mainland China, Japan, North America, and the United Kingdom, today announced that it has established two new subsidiaries in the U.S., including Tokyo Lifestyle Holding Inc, a Delaware company incorporated on October 17, 2023, and REIWATAKIYA BOS LLC, a Massachusetts company incorporated on October 26, 2023 (collectively, the “Subsidiaries”). Through the establishment of the Subsidiaries, the Company aims to reinforce its business growth strategy in the U.S. market, advancing its expansion efforts globally and strengthening its ties with varied markets.

The Subsidiaries enable the Company to operate directly in the U.S., which is expected to streamline the Company’s international logistics and improve its cross-border communications. With a local U.S. presence, the Company believes that it is in a better position to adapt its management and training systems to meet the U.S. market demands.

The Subsidiaries are expected to customize their product offerings in the U.S. to align with local consumers’ preferences. For instance, in Seattle, the Subsidiaries plan to focus on tech-related products; in New York, the Subsidiaries plan to focus on introducing a wide range of cosmetics that cater to international tastes; and in Las Vegas, the Subsidiaries plan to focus on enhancing their store counter product display aesthetics to attract customers traveling there.

Mr. Mei Kanayama, the Principal Executive Officer of Yoshitsu, commented, “We believe that our decision to establish subsidiaries in the U.S. represents a step forward in strengthening our connection with our customers. We are committed to enhancing our service to U.S. customers, deepening our understanding of the U.S. market, and aligning our offerings more closely with the needs and preferences of U.S. customers. Through the establishment of the Subsidiaries, we expect to not only elevate our market share and brand presence in the U.S., but also foster our relationships with U.S. customers and enhance their interaction with us.”