- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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