Tokyo, Japan, Oct. 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 sundry products and other products in Japan, today announced that the Company has leased its first warehouse in London, United Kingdom (the “Warehouse”), of approximately 2,362 square feet. The Company commenced operations at the Warehouse on October 15, 2022. This Warehouse represents another significant step in the Company’s business strategy to optimize its warehouse operations and enhance customer services to support its global footprint in Europe.
Located at Unit 5, Hanover West Industrial Estate, 161 Acton Lane, London, NW10 7NB, the Warehouse has the capacity to store approximately 100 categories of products and with between 30,000 to 50,000 items every one to one and half months.
Mr. Mei Kanayama, the Principal Executive Officer of Yoshitsu, commented, “We are very excited to set up our first warehouse in London, following our first warehouse in the United States last month. This Warehouse will improve access to inventory and enhance the services we provide in Europe. This serves as another milestone for us in furtherance of our expansion strategy to meet global market demands. With the Warehouse operation in London, we expect to effectively fulfill the increasing demand in the European markets for our products, boost our revenue in the region, and improve our operating efficiency. Furthermore, given the importance of the European markets to our business, we may consider establishing additional warehouses in other regions in the future to serve the local markets with our high-quality products.”
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 sundry products and 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), 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. 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. 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 Investors Relations LLC
Tina Xiao
President
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com
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