TOKYO, Sept. 16, 2024 (GLOBE NEWSWIRE) -- 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, Japan, North America, and the United Kingdom, today announced the official opening of two new franchise stores (the “Stores”) under its "Reiwatakiya" brand in Hong Kong in September 2024. This expansion is expected to further enhance the Company’s market presence and boost brand recognition in the region.

Located in the shopping districts of Tsuen Wan and Admiralty, the Stores operate under a franchise model, aiming to offer high-quality discounted products in an outlet-style pattern and create a fresh shopping experience for Hong Kong consumers. The Stores will offer a variety of discounted products, including popular Japanese beauty, skincare, and personal care items, catering to consumers’ demand for cost-effective products. The Company believes that its strategy of featuring discounted and cost-effective products under the Reiwatakiya brand will respond to market needs while enhancing the brand's visibility and popularity in Hong Kong.

The Company is targeting broader markets with plans to expand the Reiwatakiya brand into Macau and Thailand in the coming years. The Company aims to open ten more discount franchise stores over the next two years, attracting and retaining loyal customers by offering a more consumer-friendly shopping experience, thereby solidifying its position as one of the leaders in the Asian beauty market. The Company believes that these new stores would not only provide customers with more affordable options, but also allow the Reiwatakiya brand to differentiate itself through unique positioning and competitive pricing.

Mr. Mei Kanayama, Principal Executive Officer of Yoshitsu, commented: “We are excited with the progress of our strategic expansion of the Reiwatakiya brand in Hong Kong and expect further growth into Macau and the Southeast Asian region. We consider Hong Kong, known as a shopper's paradise, as one of the most influential commercial hubs, showcasing fashion brands and attracting consumers globally. We believe these new stores will enhance our brand visibility and influence beyond Hong Kong to Macau and Southeast Asia. Moreover, our expansion into Southeast Asia is underway, with a franchise network for ‘Tokyo Lifestyle’, another flagship brand, launched with a partner in August. We are committed to delivering high-quality fashion products to meet consumer needs and believe this move will further boost our expansion strategy and create value for future growth.”