Yoshitsu Co., (TKLF) has signed a five-year strategic cooperation agreement with Saynoday through its Hong Kong subsidiary Tokyo Lifestyle. The partnership focuses on expanding Yoshitsu’s Reiwatakiya brand across Hong Kong and Asian markets. Saynoday commits to procuring cosmetics and daily necessities worth HK$500 million (US$64.3 million) over the next two years. The agreement includes plans to open five new Reiwatakiya stores in Hong Kong by 2027, adding to two existing franchise stores. The collaboration leverages Saynoday’s wholesale expertise and Yoshitsu’s brand licensing, retail networks, and supply chain management capabilities.
Yoshitsu Co., (TKLF) ha firmato un accordo di cooperazione strategica della durata di cinque anni con Saynoday attraverso la sua filiale di Hong Kong, Tokyo Lifestyle. La partnership si concentra sull’espansione del marchio Reiwatakiya di Yoshitsu nei mercati di Hong Kong e asiatici. Saynoday si impegna ad approvvigionare cosmetici e beni di prima necessità per un valore di 500 milioni di HK$ (64,3 milioni di dollari USA) nei prossimi due anni. L’accordo prevede l’apertura di cinque nuovi negozi Reiwatakiya a Hong Kong entro il 2027, aggiungendosi ai due negozi in franchising già esistenti. La collaborazione sfrutta l’expertise di Saynoday nel settore all’ingrosso e le capacità di licenza del marchio, delle reti al dettaglio e della gestione della catena di fornitura di Yoshitsu.
Yoshitsu Co., (TKLF) ha firmado un acuerdo de cooperación estratégica por cinco años con Saynoday a través de su filial en Hong Kong, Tokyo Lifestyle. La asociación se centra en expandir la marca Reiwatakiya de Yoshitsu en los mercados de Hong Kong y Asia. Saynoday se compromete a adquirir cosméticos y artículos de necesidad diaria por un valor de 500 millones de HK$ (64.3 millones de dólares estadounidenses) en los próximos dos años. El acuerdo incluye planes para abrir cinco nuevas tiendas Reiwatakiya en Hong Kong para 2027, sumándose a las dos tiendas franquiciadas ya existentes. La colaboración aprovecha la experiencia mayorista de Saynoday y las capacidades de licencias de marca, redes de venta al por menor y gestión de la cadena de suministro de Yoshitsu.
Yoshitsu Co., (TKLF)는 홍콩 자회사인 Tokyo Lifestyle를 통해 Saynoday와 5년간의 전략적 협력 계약을 체결했습니다. 이 파트너십은 홍콩 및 아시아 시장에서 Yoshitsu의 Reiwatakiya 브랜드를 확장하는 데 중점을 둡니다. Saynoday는 향후 2년 동안 5억 홍콩 달러(미국 달러 6,430만 달러) 상당의 화장품 및 일상 용품을 조달할 것을 약속합니다. 계약에는 2027년까지 홍콩에 Reiwatakiya의 새로운 매장 5개를 열 계획이 포함되어 있으며, 이는 기존의 두 개의 프랜차이즈 매장에 추가됩니다. 이번 협력은 Saynoday의 도매 전문성과 Yoshitsu의 브랜드 라이센스, 소매 네트워크 및 공급망 관리 능력을 활용합니다.
Yoshitsu Co., (TKLF) a signé un accord de coopération stratégique de cinq ans avec Saynoday via sa filiale à Hong Kong, Tokyo Lifestyle. Ce partenariat se concentre sur l’expansion de la marque Reiwatakiya de Yoshitsu sur les marchés de Hong Kong et d’Asie. Saynoday s’engage à se procurer des cosmétiques et des produits de première nécessité d’une valeur de 500 millions HK$ (64,3 millions USD) au cours des deux prochaines années. L’accord comprend des plans pour ouvrir cinq nouveaux magasins Reiwatakiya à Hong Kong d’ici 2027, s’ajoutant aux deux magasins franchisés existants. La collaboration profite de l’expertise en gros de Saynoday et des capacités de licence de marque, de réseaux de vente au détail et de gestion de la chaîne d’approvisionnement de Yoshitsu.
Yoshitsu Co., (TKLF) hat einen fünfjährigen strategischen Kooperationsvertrag mit Saynoday über seine Tochtergesellschaft Tokyo Lifestyle in Hongkong unterzeichnet. Die Partnerschaft konzentriert sich auf die Ausweitung der Reiwatakiya-Marke von Yoshitsu auf den Märkten in Hongkong und Asien. Saynoday verpflichtet sich, in den nächsten zwei Jahren Kosmetika und alltägliche Güter im Wert von 500 Millionen HK$ (64,3 Millionen US-Dollar) zu beschaffen. Der Vertrag umfasst Pläne zur Eröffnung von fünf neuen Reiwatakiya-Geschäften in Hongkong bis 2027, zusätzlich zu zwei bestehenden Franchise-Geschäften. Die Zusammenarbeit nutzt die Großhandelskompetenz von Saynoday sowie die Lizenzierungs-, Einzelhandelsnetzwerk- und Supply-Chain-Management-Fähigkeiten von Yoshitsu.
Positive
- Secured HK$500 million (US$64.3 million) procurement commitment over next two years
- Planned expansion with 5 new stores in strategic Hong Kong locations by 2027
- Previous successful procurement of HK$100 million (US$12.9 million) over past two years
Insights
The strategic partnership with Saynoday represents a significant expansion move for Yoshitsu, with concrete financial commitments and expansion plans. The deal includes
The partnership leverages complementary strengths: Saynoday’s wholesale/retail expertise and regional networks combined with Yoshitsu’s brand licensing and supply chain capabilities. The multi-channel strategy, including both traditional retail and digital marketing with KOL partnerships, positions them well in the competitive Asian beauty market. For a company with a
TOKYO, Oct. 25, 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 that on October 16, 2024, the Company, through its wholly-owned Hong Kong subsidiary Tokyo Lifestyle Limited (“Tokyo Lifestyle”), entered into a five-year strategic cooperation agreement (the “Agreement”) with Saynoday Limited (“Saynoday”), a Hong Kong-based group specializing in the wholesale and retail of cosmetics and sundry products. This partnership aims to further expand the market presence of Yoshitsu’s proprietary “Reiwatakiya” brand in Hong Kong and other key Asian markets. The Agreement reflects the high level of mutual trust between both parties and their confidence in exploring growth opportunities within the beauty and daily necessities sectors in Asia.
Pursuant to the Agreement, Yoshitsu and Saynoday agree to deepen the existing trademark licensing and product supply cooperation in which Yoshitsu has granted Saynoday the right to use the “Reiwatakiya” brand. Under the Agreement, Saynoday commits to procuring high-quality cosmetics and daily necessities from Tokyo Lifestyle, totaling 500 million Hong Kong dollars (approximately US
Furthermore, leveraging Tokyo Lifestyle’s successful operation of multiple stores in Hong Kong, Saynoday plans to open five new “Reiwatakiya” stores by the end of 2027, with new stores opening each year in strategic shopping districts, including Mong Kok, Tuen Mun, Hong Kong International Airport, and Kowloon. This expansion will add to its two existing franchise stores in Tsuen Wan and Admiralty, further boosting the brand’s visibility and market penetration in Hong Kong.
Mr. Mei Kanayama, Principal Executive Officer of Yoshitsu, commented, “We are thrilled to deepen our strategic partnership with Saynoday to enhance brand promotion and market expansion. Each party brings complementary strengths: Saynoday offers vast experience in wholesale and retail operations, with extensive networks in China, Hong Kong, Macao, and other Asian markets, particularly South Korea and Japan. Meanwhile, Tokyo Lifestyle will provide robust support through our strong brand licensing capabilities, extensive retail networks, diverse sales channels, and professional supply chain management, backed by available capital resources. A key component of this collaboration is Tokyo Lifestyle’s support in expanding both companies’ reach in Asian and global markets, utilizing not only our powerful offline sales network but also our resources in digital marketing and e-commerce platforms, including partnerships with key opinion leaders (KOLs). We believe that this multi-channel approach will foster strong consumer connections and increase the brand’s social influence. By leveraging our combined strengths and shared vision, we believe this partnership will elevate Reiwatakiya’s brand awareness and market share in core Asian markets and beyond, marking the beginning of a new chapter for both companies in an increasingly competitive landscape.”
About Yoshitsu Co., Ltd
Headquartered in Tokyo, Japan, Yoshitsu Co., Ltd is a retailer and wholesaler of Japanese beauty and health products, sundry products, luxury products, electronic products, and other products in Hong Kong, Japan, North America, and the United Kingdom. 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. 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: [email protected]
Ascent Investor Relations LLC
Tina Xiao
President
Phone: +1-646-932-7242
Email: [email protected]
FAQ
What is the value of Yoshitsu’s (TKLF) new procurement deal with Saynoday ?
Saynoday commits to procuring HK$500 million (approximately US$64.3 million) worth of cosmetics and daily necessities from Yoshitsu over the next two years.
How many new Reiwatakiya stores will TKLF open in Hong Kong by 2027?
Yoshitsu (TKLF) plans to open five new Reiwatakiya stores in Hong Kong by the end of 2027, in locations including Mong Kok, Tuen Mun, Hong Kong International Airport, and Kowloon.
What is the duration of TKLF’s strategic cooperation agreement with Saynoday?
The strategic cooperation agreement between Yoshitsu (TKLF) and Saynoday is for a five-year period.
