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.
miniluxe.com
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