Yoshitsu announced that, on August 1, 2024, the Company, through its Hong Kong subsidiary, Tokyo Lifestyle Limited entered into the following agreements with Grun Group Thailand Co.to develop a network of franchise stores for beauty products in the Southeast Asia market under the “Tokyo Lifestyle” brand: a trademark license agreement with Tokyo Lifestyle Thailand Co., Ltd., a company incorporated in Thailand, the controlling shareholder of which is Grun Thailand, and (ii) a purchase and sales contract. The Company sees these Agreements as representing a significant milestone in the Company’s ambitious regional expansion strategy.
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