The health and beauty retail sector in Japan is expected to reach ¥15.2trn ($98.1trn) by 2025, and this demand has branched out to the rest of the world.
Japanese beauty retailer Yoshitsu is taking advantage of this demand and is taking a multi-pronged approach to build its brand awareness in the US and drive sales.
In a recent letter to shareholders, Yoshitsu principal executive officer Mei Kanayama stated: “Our primary focus in 2024 will be on brand expansion, particularly in the US. We plan to inaugurate more direct-sale stores in key cities including New York, Boston, Las Vegas, and Los Angeles. The move is a critical step in our global expansion strategy.”
In December 2023 Yoshitsu opened its first US store in Seattle. The flagship store is 6,000 square feet and features a range of more than 8,000 in-stock items.
The brand is also inking alliances with established retailers in the US to promote its products. Among these alliances is a deal with Los Angeles-based collectible card retailer and live-streaming distributor CROSSING.
The company’s goal with its US stores is to stock a diverse portfolio of products including cosmetics, skincare, over-the-counter drugs, nutritional supplements, home goods, food and alcoholic beverages. The stores will also have a local warehouse to support operations.
Additionally, Yoshitsu has created two new subsidiaries in the US to streamline international logistics and improve cross-border communications.
Kanayama concluded: "Launching our direct-sale Stores in the US is a transformative step for Yoshitsu. By streamlining operations in-house in the US, we're not just aiming to build closer ties with the US market, but we are also seeking to enhance operational control to improve our service standards.”
In late 2023, Yoshitsu launched a REIWATAKIYA flagship store in London, UK.
