Yoshitsu Looks To Reduce Logistics Costs Via Warehouse Partnership With Lion Group

Japanese beauty and health products retailer Yoshitsu Co Ltd 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.