Yoshitsu Shares Skyrocket On Acquiring Tokyo Lifestyle For $2.8M

by Shivani Kumaresan, Benzinga Staff Writer

July 22, 2022 10:35 AM | 1 min read | Make a Comment

Japanese beauty products retailer Yoshitsu Co Ltd TKLF has entered into a definitive agreement with All Seas Global Limited to acquire 100% equity interests in Tokyo Lifestyle Limited for $2.8 million.
Tokyo Lifestyle is engaged in importing and retailing Japanese beauty and cosmetic products in Hong Kong and live e-commerce business through its subsidiary, Shenzhen Qingzhiliangpin Network Technology Co.
Yoshitsu expects the acquisition to expand its business in Southeast Asia and boost the digital transformation of live streaming e-commerce in its retail business.
Yoshitsu held $6.97 million in cash and equivalents as of September 30, 2021.
Price Action: TKLF shares are trading higher by 49% at $2.30 on the last check Friday.