{"id":765051,"date":"2023-06-21T08:25:37","date_gmt":"2023-06-21T12:25:37","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/yoshitsu-co-ltd-to-adopt-an-asset-light-business-model\/"},"modified":"2023-06-21T08:25:37","modified_gmt":"2023-06-21T12:25:37","slug":"yoshitsu-co-ltd-to-adopt-an-asset-light-business-model","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/yoshitsu-co-ltd-to-adopt-an-asset-light-business-model\/","title":{"rendered":"Yoshitsu Co., Ltd to Adopt an Asset-Light Business Model"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">Tokyo, Japan, June  21, 2023  (GLOBE NEWSWIRE) &#8212; Yoshitsu Co., Ltd (\u201cYoshitsu\u201d or the \u201cCompany\u201d) (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 entered into four franchise agreements (the \u201cAgreements\u201d) with its franchisees to open four new franchise stores (the \u201cStores\u201d) under the names \u201cTOKYO LIFESTYLE\u201d and \u201creiwatakiya\u201d to adopt an asset-light business model. TOKYO LIFESTYLE and reiwatakiya stores provide various household goods and products. Three of the four new franchise stores will be located in Tokyo, and one will be located in Nagano Prefecture. With the new business model, the Company hopes to build strong store brand awareness and accelerate its business expansion by leveraging the advantages of strategic alliances with franchisees.<\/p>\n<p align=\"justify\">Pursuant to the Agreements, Yoshitsu grants the franchisees the right operate the Stores under the names \u201cTOKYO LIFESTYLE\u201d and \u201creiwatakiya\u201d. Yoshitsu agrees to provide management support to the franchisees, while the franchisees agree to take charge of daily operations under the guidance of Yoshitsu.<\/p>\n<p align=\"justify\">Mr. Mei Kanayama, Principal Executive Officer of Yoshitsu, commented, &#8220;We are excited to adopt the asset-light business model through the launch of four franchise stores, aiming to optimize our revenue streams. This marks a new chapter for Yoshitsu, which we believe will enable us to provide our products and shopping experience to a broader customer base. Additionally, by adopting the asset-light franchise model, we expect to accelerate the development and launch of products, allowing us to respond more promptly to market trends and customer demands. We trust our franchise partners and anticipate mutual success and growth. Yoshitsu is committed to providing outstanding service and quality products to customers while expanding our business footprint. With our reputation and expertise, and the franchise partners\u2019 efforts, Yoshitsu expects continued success and growth in the store brands, TOKYO LIFESTYLE and reiwatakiya. We look forward to collaborating with more franchise partners in the future.\u201d<\/p>\n<p align=\"justify\">\n        <strong>About <\/strong><br \/>\n        <strong>Yoshitsu<\/strong><br \/>\n        <strong> Co., Ltd<\/strong>\n      <\/p>\n<p align=\"justify\">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\u2019s website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=GsWkfDB7LfBhGF72ppjc0GrQGoQGeHGFOsGXlkYm-HVTTVJ9EhOTjHcTgCFPYn879T1XKRJTqOSE2TD2J0xAH5LG1oQC4n6-RexlztaUX86aC6dKW2v0ThWSxIU-OKbj\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/www.ystbek.co.jp\/irlibrary\/<\/a>.<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <em>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 \u201cmay,\u201d \u201cwill,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201caim,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cbelieve,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d \u201cis\/are likely to,\u201d 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\u2019s operations, the demand for the Company\u2019s 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\u2019s registration statement and in its other filings with the U.S. Securities and Exchange Commission.<\/em>\n      <\/p>\n<p>\n        <strong>For more information, please contact:<\/strong>\n      <\/p>\n<p>Yoshitsu Co., Ltd<br \/>Investor Relations Department<br \/>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=grUYDkvFI1C70_yOtPpxp-rmsG5kgmy78X3Qs8iDh1U5D5_tX1d5Awcm85WGVkHRepIooejcNhhUdGUeOhaomw==\" rel=\"nofollow noopener\" target=\"_blank\">ir@ystbek.co.jp<\/a><\/p>\n<p>\n        <strong>Ascent Investors Relations LLC<\/strong>\n      <\/p>\n<p>Tina Xiao<br \/>President<br \/>Phone: +1-917-609-0333<br \/>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=d3bZVEW8ZZjzOcznmAuZ5JBgQ0oB36NAyWsQvuUf-kKrvTsskZrtvVsAxCI9a37S6SUepXR5Hmcit9XrrSiyZgw6Kj9e3F4e3rFkcY0qdMc=\" rel=\"nofollow noopener\" target=\"_blank\">tina.xiao@ascent-ir.com<\/a><\/p>\n<p \/>\n      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg2MTc2OSM1NjU3MzM1IzUwMDA5ODc4Ng==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/MTMxN2JhYzAtOGJjMC00NGUwLThiMWEtNmVlNzhjNGM4N2EzLTUwMDA5ODc4Ng==\/tiny\/Yoshitsu-Co-Ltd-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Tokyo, Japan, June 21, 2023 (GLOBE NEWSWIRE) &#8212; Yoshitsu Co., Ltd (\u201cYoshitsu\u201d or the \u201cCompany\u201d) (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 entered into four franchise agreements (the \u201cAgreements\u201d) with its franchisees to open four new franchise stores (the \u201cStores\u201d) under the names \u201cTOKYO LIFESTYLE\u201d and \u201creiwatakiya\u201d to adopt an asset-light business model. TOKYO LIFESTYLE and reiwatakiya stores provide various household goods and products. Three of the four new franchise stores will be located in Tokyo, and one will be located in Nagano Prefecture. With the new business model, the Company hopes to build strong store brand awareness and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/yoshitsu-co-ltd-to-adopt-an-asset-light-business-model\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Yoshitsu Co., Ltd to Adopt an Asset-Light Business Model&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-765051","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Yoshitsu Co., Ltd to Adopt an Asset-Light Business Model - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/yoshitsu-co-ltd-to-adopt-an-asset-light-business-model\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yoshitsu Co., Ltd to Adopt an Asset-Light Business Model - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Tokyo, Japan, June 21, 2023 (GLOBE NEWSWIRE) &#8212; Yoshitsu Co., Ltd (\u201cYoshitsu\u201d or the \u201cCompany\u201d) (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 entered into four franchise agreements (the \u201cAgreements\u201d) with its franchisees to open four new franchise stores (the \u201cStores\u201d) under the names \u201cTOKYO LIFESTYLE\u201d and \u201creiwatakiya\u201d to adopt an asset-light business model. TOKYO LIFESTYLE and reiwatakiya stores provide various household goods and products. Three of the four new franchise stores will be located in Tokyo, and one will be located in Nagano Prefecture. With the new business model, the Company hopes to build strong store brand awareness and &hellip; Continue reading &quot;Yoshitsu Co., Ltd to Adopt an Asset-Light Business Model&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/yoshitsu-co-ltd-to-adopt-an-asset-light-business-model\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-21T12:25:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg2MTc2OSM1NjU3MzM1IzUwMDA5ODc4Ng==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/yoshitsu-co-ltd-to-adopt-an-asset-light-business-model\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/yoshitsu-co-ltd-to-adopt-an-asset-light-business-model\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Yoshitsu Co., Ltd to Adopt an Asset-Light Business Model\",\"datePublished\":\"2023-06-21T12:25:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/yoshitsu-co-ltd-to-adopt-an-asset-light-business-model\\\/\"},\"wordCount\":730,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/yoshitsu-co-ltd-to-adopt-an-asset-light-business-model\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODg2MTc2OSM1NjU3MzM1IzUwMDA5ODc4Ng==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/yoshitsu-co-ltd-to-adopt-an-asset-light-business-model\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/yoshitsu-co-ltd-to-adopt-an-asset-light-business-model\\\/\",\"name\":\"Yoshitsu Co., Ltd to Adopt an Asset-Light Business Model - 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