Yoshitsu Co., Ltd Developing Shopping App for Global Shoppers
June 12 2023 - 8:00AM
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., LtdInvestor Relations
DepartmentEmail: ir@ystbek.co.jp
Ascent Investors Relations
LLC
Tina XiaoPresidentPhone: +1-917-609-0333Email:
tina.xiao@ascent-ir.com
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