Yoshitsu Co., a Japanese retailer and wholesaler of beauty, health, and other products, filed on Friday with the SEC to raise up to $30 million.
The Tokyo, Japan-based company plans to raise $30 million by offering 6.0 million ADSs at a price range of $4 to $6. At the midpoint of the proposed range, Yoshitsu Co. would command a market value of $180 million.
Yoshitsu primarily sells Japanese beauty and health products in China, Japan, and other overseas markets including the US and Canada. Its distribution channels include 22 online stores and various e-commerce marketplaces, franchised stores and wholesale customers, and directly-operated physical stores under the name Tokyo Lifestyle.
Yoshitsu Co. was founded in 2006 and booked $222 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq, though it has not disclosed a proposed ticker (RC symbol: YOSH.RC). Yoshitsu Co. filed confidentially on December 23, 2020. Univest Securities is the sole bookrunner on the deal.
