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.

Posted In: BriefsNewsPenny StocksContracts

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.