Yoshitsu Co. Establishes Franchise Network With Grun Group Thailand Co. For Southeast Asia Expansion Under The "Tokyo Lifestyle" Brand

Author: Benzinga Newsdesk | August 12, 2024 08:15am

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 August 1, 2024, the Company, through its Hong Kong subsidiary, Tokyo Lifestyle Limited ("TLS"), entered into the following agreements with Grun Group Thailand Co. Ltd. ("Grun Thailand"), a professional brand marketing agency, to develop a network of franchise stores for beauty products in the Southeast Asia market under the "Tokyo Lifestyle" brand: (i) a trademark license agreement with Tokyo Lifestyle Thailand Co., Ltd., a company incorporated in Thailand, the controlling shareholder of which is Grun Thailand, and (ii) a purchase and sales contract (collectively, the "Agreements"). The Company sees these Agreements as representing a significant milestone in the Company's ambitious regional expansion strategy.

Posted In: TKLF