MiniLuxe signs agreement with respected Boston entrepreneur, Quynh Pham, who will also invest in MiniLuxe’s private placement and advise the Company on its talent recruitment.
Boston, MA, Dec. 17, 2024 (GLOBE NEWSWIRE) — MiniLuxe Holding Corp. (TSXV: MNLX) (“MiniLuxe” or the “Company”) is pleased to announce its inaugural franchisee operator partner, Ms. Quynh Pham, a Boston-based serial retail entrepreneur and business leader. Ms. Pham will also be investing in the company’s upcoming private placement and play a role in advising the Company on the recruitment, development and retention of nail designer talent. Ms. Pham immediately begins her franchising journey with a MiniLuxe location in Brookline, Massachusetts, which is opening this week. Furthermore, over the next three years, she will invest up to $USD 2M to open three or more MiniLuxe units and thereafter looks to develop several more sites.
The Company formally launched its franchise program in the first half of 2024 as part of a broader strategy to attract and partner with the best-in-class operators in either franchise or JV structures. In July 2024, the Company announced its investment of a majority-owned JV in Southeastern US as a means for MiniLuxe to enter that market. Ms. Pham not only serves as MiniLuxe’s inaugural franchise partner but as a best-in-class operator with the opportunity and ambition to scale up to dozens of locations over time.
A leader in Boston’s Vietnamese and entrepreneurial community, Ms. Pham and her husband, Brad Nguyen, emigrated to the United States approximately 13 years ago and have built successful real estate and retail enterprises together. Ms. Pham serves as the CEO of the Shops at Randolph, a 62,000 square foot open-air shopping, restaurant and services plaza in greater Boston. She is also behind the highly successful and high-volume retail wine stores: Cambridge Wine and Spirits and Chauncy Liquor Mart. Ms. Pham started her career in the haute-fashion trading business at age 19 and previously worked in finance and human resources for the transportation logistics firm Kuebix (acquired by NASDAQ: TRMB). She started her career as an accountant with Liberty Mutual Insurance.
“I am honored to be partnering with MiniLuxe to expand their purpose of empowering diverse and creative self-care professionals in the nail care industry. I have been a long-standing MiniLuxe customer and wanted to be the first to franchise the MiniLuxe brand,” says Ms. Pham. “I believe that MiniLuxe truly holds the potential to transform our industry.”
“We are thrilled to have Ms. Pham as a partner with us at MiniLuxe as she has a unique entrepreneurial background with strong accounting and human resource skills honed across respected corporate and start-up environments. She and her husband, Brad, truly represent the best spirit of the ‘American Dream’ and are an inspiration to their community and beyond,” said Tony Tjan, CEO of MiniLuxe.
About MiniLuxe
MiniLuxe, a Delaware corporation based in Boston, Massachusetts. MiniLuxe is a lifestyle brand and talent empowerment platform servicing the beauty and self-care industry. The Company focuses on delivering high-quality nail care and esthetic services and offers a suite of trusted proprietary products that are used in the Company’s owned-and-operated studio services. For over a decade, MiniLuxe has been elevating industry standards through healthier, ultra-hygienic services, a modern design esthetic, socially responsible labor practices, and better-for-you, cleaner products. MiniLuxe’s aims to radically transform a highly fragmented and under-regulated self-care and nail care industry through its brand, standards, and technology platform that collectively enable better talent and client experiences.
In addition to creating long-term durable economic returns for stakeholders, MiniLuxe is expanding its reach through franchising, offering entrepreneurs the opportunity to partner with a brand recognized as the best nail salon franchise. MiniLuxe seeks to empower one of the most diverse and largest hourly worker segments through professional development, economic mobility, and ownership opportunities. For its clients, MiniLuxe offers best-in-class self-care services and better-for-you products, and for nail care and beauty professionals, MiniLuxe seeks to become the employer of choice. Since its inception, MiniLuxe has performed over 4 million services.
For further information
Christine Mastrangelo
Corporate Secretary and Investor Relations, MiniLuxe Holding Corp.
cmastrangelo@miniluxe.com
miniluxe.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) concerning the Company and its subsidiaries within the meaning of applicable securities laws. Forward-looking information may relate to the future financial outlook and anticipated events or results of the Company and may include information regarding the Company’s financial position, business strategy, growth strategies, acquisition prospects and plans, addressable markets, budgets, operations, financial results, taxes, dividend policy, plans and objectives. Particularly, information regarding the Company’s expectations of future results, performance, achievements, prospects or opportunities or the markets in which the Company operates is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects”, “budgets”, “scheduled”, “estimates”, “outlook”, “forecasts”, “projects”, “prospects”, “strategy”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, or “will” occur. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances.
Many factors could cause the Company’s actual results, performance, or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking information, including, without limitation, those listed in the “Risk Factors” section of the Company’s filing statement dated November 9, 2021. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance, or achievements could vary materially from those expressed or implied by the forward-looking statements contained in this press release.
Forward-looking information, by its nature, is based on the Company’s opinions, estimates and assumptions in light of management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company currently believes are appropriate and reasonable in the circumstances. Those factors should not be construed as exhaustive. Despite a careful process to prepare and review forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking information. Although the Company bases its forward-looking information on assumptions that it believes were reasonable when made, which include, but are not limited to, assumptions with respect to the Company’s future growth potential, results of operations, future prospects and opportunities, execution of the Company’s business strategy, there being no material variations in the current tax and regulatory environments, future levels of indebtedness and current economic conditions remaining unchanged, the Company cautions readers that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and the development of the industry in which the Company operates may differ materially from the forward-looking statements contained in this press release. In addition, even if the Company’s results of operations, financial condition and liquidity, and the development of the industry in which it operates are consistent with the forward-looking information contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.
Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information, which speaks only as of the date made (or as of the date they are otherwise stated to be made). Any forward-looking statement that is made in this press release speaks only as of the date of such statement.
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