Japanese retailer Tokyo Lifestyle Co., Ltd. (Nasdaq: TKLF) will expand its Canadian footprint this spring with the opening of its second Reiwatakiya-branded store in Toronto, located at 237 Queen Street West. Scheduled to open in mid-May 2025, the new location follows the successful launch of the brand’s first Canadian store at 399 Spadina Avenue in 2024.
The expansion marks a deliberate move by Tokyo Lifestyle to grow its presence in North America, with Canada playing a key role in its global retail strategy. The new Queen Street West storefront will span approximately 1,537 square feet and will bring the company’s curated selection of Japanese beauty, health, and lifestyle products to a high-traffic stretch of downtown Toronto.
Strategic Downtown Location
Queen Street West, long considered one of Toronto’s most vibrant retail corridors, was selected for its diverse mix of independent and global fashion, lifestyle, and cosmetics retailers. The area attracts a youthful and trend-conscious demographic—an audience that aligns with Tokyo Lifestyle’s customer base.
“This new Reiwatakiya store in Toronto marks another deliberate and methodical step forward in our regional expansion,” said Mei Kanayama, Principal Executive Officer of Tokyo Lifestyle. “North America—particularly Canada—has been a key focus in our long-term global expansion strategy, given its strong appeal to international consumers, especially younger, trend-conscious generations.”
Kanayama added that the region’s consumption potential and dynamic retail environment are important drivers of growth for the company. “We believe that our offerings deliver not just style, but a curated lifestyle experience that sets us apart from competitors,” she said.
What Customers Can Expect
The Queen Street West location will offer a broad assortment of products rooted in Japanese beauty and wellness traditions. Shoppers can expect to find a range of high-quality skincare, cosmetics, and body care items, many of which are difficult to source through conventional retailers in Canada.
Health-related products such as nutritional supplements, over-the-counter medications, and wellness goods will also be available, reflecting the company’s focus on holistic self-care. Beyond beauty and health, Reiwatakiya stores feature a selection of Japanese home goods, personal accessories, and lifestyle items that reflect the country’s distinctive design sensibilities—emphasizing functionality, simplicity, and thoughtful aesthetics.
With a layout designed for both exploration and convenience, the space will offer a modern in-store experience that resonates with the company’s younger, globally minded shoppers. According to the brand, the goal is not simply to sell products, but to provide a curated encounter with Japanese culture and innovation.
Existing Presence in Toronto and the U.S.
Tokyo Lifestyle first entered the Canadian market in 2024 with the opening of its first Reiwatakiya store at 399 Spadina Avenue, also in downtown Toronto. That location helped the company establish a base of operations in Canada, laying the groundwork for further expansion.
In the United States, Tokyo Lifestyle has opened several directly-operated Reiwatakiya stores, including a 6,000-square-foot location in Seattle in December 2023 and a 2,328-square-foot store at Fashion Show Las Vegas in November 2024. The company also operates close to 50 stores under its “Tokyo Japanese Lifestyle” banner through its U.S. subsidiary ICHI Trading Corporation, with a presence in major malls across California, Washington, Nevada, and Arizona.
The new Queen Street store in Toronto is part of this broader push to establish high-profile flagship locations across key North American urban markets.
Company Background and Growth Strategy
Tokyo Lifestyle Co., Ltd., formerly known as Yoshitsu Co., Ltd., is headquartered in Tokyo, Japan. The company operates as a retailer and wholesaler of Japanese beauty and health products, sundries, luxury goods, electronics, and other items. With a presence in Japan, Hong Kong, China, Thailand, North America, and the UK, the company sells its merchandise through directly-operated stores, online platforms, and franchise or wholesale channels.
The product mix includes cosmetics, skincare, fragrances, over-the-counter health products, and medical supplies, as well as luxury items such as watches, handbags, and apparel, and home goods, food, and beverages. Tokyo Lifestyle positions itself as a lifestyle brand rather than simply a beauty retailer, aiming to offer an immersive cultural experience.
For the fiscal year ending March 31, 2024, the company reported total revenue of $219.5 million, with net income of $6.86 million, and earnings per share (EPS) of $1.70. Revenue streams were led by franchise and wholesale business at $170 million, with directly-operated stores generating $14.95 million, and online services contributing $10.71 million.
Tokyo Lifestyle is led by Mei Kanayama, who joined the company in 2007 and currently holds a 67.7% ownership stake. Under her leadership, the company has pursued a global growth strategy that balances calculated retail investments with an emphasis on quality and cultural differentiation.
More to Come?
The upcoming opening at 237 Queen Street West suggests that Tokyo Lifestyle sees continued potential in the Canadian market. While no additional Canadian store locations have been confirmed, the company’s pattern of measured but deliberate expansion suggests that further announcements may be on the horizon.
“In the midst of ongoing global commercial uncertainties, we remain committed to our carefully planned expansion strategy,” said Kanayama. “Backed by our unwavering dedication to quality and customer satisfaction, we believe we are well-positioned to maintain steady growth and reach new heights.”
