- Japanese beauty and health products retailer Yoshitsu Co Ltd (NASDAQ:TKLF) has partnered with two cross-border E-commence, warehousing, and logistics companies, Hainan Lion and LHK, collectively called the Lion Group.
- Yoshitsu has modified and amended its service agreement with Lion Group to optimize international warehouse operations for expanding its business presence in China.
- Under the agreement, Yoshitsu has agreed to authorize the Lion Group as agents concerning its cross-border business in China.
- The agreement is active from March 1, 2022, to February 28, 2025, renewing annually.
- "With the partnership, we expect to greatly reduce our international logistics costs and lower our warehouse service fees by JPY1 billion (approximately US$8.14 million) over the initial three-year term of the Agreement, as estimated by the Company, while improving product delivery efficiency in China," said Mei Kanayama, Principal Executive Officer of Yoshitsu.
- Price Action: TKLF shares are trading higher by 2.51% at $2.25 on the last check Thursday.
