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Tokyo Lifestyle Co., Ltd. ("Tokyo Lifestyle" or the "Company") (NASDAQ:TKLF), a retailer and wholesaler of Japanese beauty and health products, sundry products, luxury products, electronic products, collectible cards, trendy toys as well as other products in Hong Kong, Japan, North America, Thailand and the United Kingdom, today announced that its Hong Kong subsidiary, Tokyo Lifestyle Limited, had entered a cooperation agreement along with a supplementary agreement (collectively, the "Agreements") with HK Artemis Limited ("HK Artemis"), a Hong Kong-based private company, to jointly drive the online sales through the Company's shopping mall app (the "App") in Hong Kong.
Pursuant to the Agreements, Tokyo Lifestyle agrees to transfer ownership of the App to HK Artemis by January 1, 2026, under a payment arrangement made in installments by HK Artemis within three years.
In addition, Tokyo Lifestyle has granted HK Artemis a non-exclusive, three-year license to use the "TokyoLifestyle" trademark and related brand identifiers in connection with the App and its associated online business activities. This license is subject to HK Artemis meeting specified minimum sales targets and investment commitments.
Posted In: TKLF
