The pandemic brought about a number of challenges to every industry, with the ensuing digital disruption causing a massive shift in the consumer landscape.
The beauty and wellness industry for example, which relies heavily on physical brick-and-mortar operations, had brands and formulators scrambling to rethink the way they do things and adapt to the “new normal” comprising global shutdowns of physical locations, physical distancing and other “no-touch” regulations – pushing the beauty sector into the digital realm.
With businesses opening up post the lifting of restrictions consumers have started to feel more comfortable and safe going back to shopping in malls and physical stores.
But some markets like China, which were once considered red-hot for the beauty industry, continued to face issues even as the world opened its doors to business. This is attributed to China’s zero-Covid policy which had cracked down on the tech, entertainment, real estate and other sectors through a combination of snap lockdowns, mass testing and lengthy quarantines.
Yoshitsu has been ramping up its brick-and-mortar presence in North America and Europe as well as in Asia. The company recently opened a new store in Hong Kong, China, which brings it one step closer to achieving its long-term goal of expanding its presence in China. The new store offers customers cosmetics, skincare, fragrances, body care products and more.
Commenting on the company’s performance last year, Mei Kanayama, Principal Executive Officer of Yoshitsu said: “Although the global economy has been filled with uncertainties, we are satisfied with the accomplishments achieved in our key strategic initiatives, including the completion of our initial public offering in January 2022 and the expansion of our market coverage with new stores and wholesale customers.”
“We believe that we are capable of mitigating the near-term turbulence and expect to continue to build strong momentum with our flexible and resilient business model. We are confident that our strategic initiatives will drive Yoshitsu to achieve long-term growth and generate more value for our shareholders.”
The Company’s distribution channels currently consist of lots of directly-operated physical stores in Japan and Hong Kong (China), many online stores in Japan, China, and Korea; numerous franchise stores in the U.S., Canada and the U.K., and over 200 wholesale customers in Japan and other countries, including China, the U.S., and Canada.
This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
