Yoshitsu, a retailer and wholesaler of Japanese beauty and health, luxury and electronic products, has announced a significant move to expand its presence in Southeast Asia.
The company, through its Hong Kong subsidiary, Tokyo Lifestyle Limited (TLS), signed agreements with Grun Group Thailand to develop a network of franchise stores under the "Tokyo Lifestyle" brand.
Yoshitsu aims to establish a distribution network of 18 franchise stores in Thailand and 15 in Malaysia by the end of 2026.
The expansion plan includes opening three standard stores in downtown Bangkok and eight lifestyle stores nationwide in Thailand in 2025.
In Malaysia, the company plans to open two standard stores in Klang Valley in 2024, five lifestyle stores in 2025 and 15 stores nationwide by 2026.
The agreements are part of Yoshitsu’s ambitious regional expansion strategy.
Yoshitsu principal executive officer Mei Kanayama said: “We are thrilled that our strategic expansion initiatives into the Southeast Asia market have made solid progress. We believe Southeast Asia is a fast-developing and promising region that could offer vast growth potential and present unique challenges and fierce competition.
“After careful consideration, we decided to partner with Grun Thailand and adopt a franchise network expansion plan to establish our brand and presence in the region. With intense coordination, we carefully chose the downtown areas in Thailand and Malaysia as our expansion outposts, targeting the representative and fast-growing middle-class consumer groups, expecting to build our brand awareness quickly and thoroughly.
“We are committed to delivering our high-quality fashion products to the market, enhancing customer experiences and fostering improvements in life quality, cultural diversity and the regional economy.”
