Yoshitsu Co., Ltd.’s Subsidiary REIWATAKIYA LV LLC Enters into a Lease Agreement with Fashion Show Mall LLC to Expand Market Presence in the U.S. Market
05 Marzo 2024 - 7:00AM
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, mainland China, Japan, North America,
and the United Kingdom, today announced that the Company, through
its subsidiary, REIWATAKIYA LV LLC, a Nevada limited liability
company, entered into a lease agreement (the "Lease") on February
21, 2024 with Fashion Show Mall LLC, a Delaware limited liability
company, to lease a premise for its new store located in Fashion
Show Las Vegas (“Fashion Show”), a shopping, dining and
entertainment destination on the Las Vegas Strip. The move is
expected to expand the Company’s operational network in the U.S.
market and strengthen its market presence.
Pursuant to the Lease, the leased premise is
located at Space No.2015 of the Fashion Show shopping center in the
City of Las Vegas, County of Clark, State of Nevada, U.S.A.,
covering a floor area of approximately 2,328 square feet. The lease
term will expire on September 30, 2029, during which a REIWATAKIYA
store engaged in the retail of cosmetics, fragrances, health and
beauty products, body care products, and other such related
products and services is expected to be in operation. The official
opening date of the store is scheduled to be October 1, 2024.
Mr. Mei Kanayama, the Principal Executive
Officer of Yoshitsu, commented, “We are excited to share with you
the upcoming opening of our new Las Vegas store, a significant step
made possible through our recent Lease with Fashion Show Mall LLC.
We believe that this step is a key part of our ongoing efforts to
broaden the scope of our business and enhance our brand awareness
in the U.S. By establishing a presence in the Fashion Show shopping
center, we aim to introduce a diverse range of top-quality Japanese
products to cater to the varied needs of Las Vegas consumers. As we
move forward, our focus will be on adapting and expanding our
product range to better serve the local market and on establishing
a solid foundation for additional U.S. locations. We are optimistic
that this international expansion will inject new energy into our
growth and development.”
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, as
well as other products in Hong Kong, mainland China, 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), luxury products (including branded
watches, perfume, handbags, clothes, and jewelry), electronic
products (including entertainment gaming products), 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. 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., LtdInvestor
Relations DepartmentEmail: ir@ystbek.co.jp
Ascent Investor Relations
LLCTina XiaoPresidentPhone: +1-646-932-7242Email:
investors@ascent-ir.com
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