Yoshitsu Co., Ltd Announces Strategic Alliance with CROSSING INC to Expand Sales Network in the U.S.
Tokyo, Japan, Sept. 20, 2023 (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 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., Ltd
Investor Relations Department
Email: ir@ystbek.co.jp
Ascent Investor Relations LLC
Tina Xiao
President
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com
