Yoshitsu Co., Ltd Announces Strategic Alliance with CROSSING INC to Expand Sales Network in the U.S.
September 20 2023 - 7:00AM
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 an alliance (the “Alliance”) between the Company and
CROSSING INC (“CROSSING”), a collectible card retailer and
live-streaming distributor. The Company has entered into an
exclusive contract with CROSSING, which allows CROSSING to procure
the Company’s products from the Company and distribute through
CROSSING’s sales channels, including its live-streaming ecommerce
channels and online shops. The Alliance marks a significant
milestone in Yoshitsu’s efforts towards sales expansion in the U.S.
market.
Mr. Mei Kanayama, the Principal Executive
Officer of Yoshitsu, commented, “We are delighted to cooperate with
CROSSING. The Alliance is intended to leverage CROSSING’s online
sales channels to augment the sales of Yoshitsu’s products in the
U.S. As part of our ongoing strategy to bolster sales in the U.S.
market, we expect this partnership with CROSSING to serve as a
cornerstone for us to expand our sales network in the U.S. By
leveraging CROSSING's live-streaming ecommerce platform and online
shops, we aim to amplify the visibility of our products in the U.S.
market, elevate the brand value, broaden our customer base, and
boost consumer demand. In the future, we plan to keep forging
partnerships with other overseas merchants to take advantage of
their respective resources to achieve more advancements in our
overseas market expansion efforts.”
About CROSSING INC
Headquartered in Los Angeles, CROSSING INC is a
collectible card retailer and live-streaming distributor. All
information about CROSSING INC contained herein has been reviewed
and approved by CROSSING INC.
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
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: +1-917-609-0333Email:
tina.xiao@ascent-ir.com
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