Japanese retailer Yoshitsu to acquire Tokyo Lifestyle Limited 

Japanese retailer Yoshitsu to acquire Tokyo Lifestyle Limited 

THE WHAT? Japanese retailer Yoshitsu has entered into a definitive agreement to acquire Tokyo Lifestyle Limited from All Seas Global.

THE DETAILS Tokyo Lifestyle Limited works in the import and retail of Japanese beauty and cosmetic products in Hong Kong, and has a live e-commerce business through its wholly-owned subsidiary, Shenzhen Qingzhiliangpin Network Technology.

Yoshitsu has agreed to acquire TL for JPY392,000,000 in cash, approximately US$2,805,192, subject to certain terms. 

THE WHY? According to Yoshitsu, the purchase is a critical initiative of the company’s business strategy to boost its business expansion in the Southeast Asia market and advance the digital transformation of live streaming e-commerce in its retail business.

Mei Kanayama, Principal Executive Officer of Yoshitsu, said, “We are extremely pleased to take another initiative in Yoshitsu’s global business expansion. The capabilities of TL and SQNT and our expansion and digital transformation strategy are well matched. With the acquisition of TL, we expect to improve our operational efficiency and establish a solid foundation in Hong Kong to develop the Southeast Asian market further and strengthen our brand awareness in the region. 

“SQNT is dedicated to cultivating key opinion leaders, who are frequently approached by brands in the hopes that these KOLs will actively promote their products via online channels. The foregoing strategy is expected to improve our customers’ shopping experience and meet new market demands. We expect the acquisition of TL to strengthen our position in the marketplace and deliver higher value to our shareholders.”