MINILUXE ANNOUNCES JV AND MAJORITY SHAREHOLDING OF NEW ATLANTA SITE WITH SUGARCOAT, LEADING NAIL CARE BRAND IN THE SOUTHEASTERN UNITED STATES

AS PART OF THE JV, MINILUXE WILL ENTER THE ATLANTA MARKET THROUGH A STUDIO CONVERSION

Boston, MA, July 03, 2024 (GLOBE NEWSWIRE) — MiniLuxe Holding Corp. (TSXV: MNLX) (“MiniLuxe” or the “Business”) is pleased to announce a joint venture partnership with Sugarcoat, a leading regional brand in modern nail care based in Atlanta, Georgia. The award-winning brand was launched in Atlanta in 2010 by entrepreneur Peiru Kim and now operates twelve locations throughout the greater Atlanta area, with nail care as its core offering and extensions services for eyelashes, waxing, skin care and hair. Prior to founding Sugarcoat, Ms. Kim worked in real estate asset management.

The joint venture was born out of the mutual respect for values ​​between the founders of each brand. Both MiniLuxe and Sugarcoat seek to positively change the nail care industry by fostering the economic and creative independence of nail stylists. Like MiniLuxe, Sugarcoat enjoys a high employee retention rate and is poised for continued expansion, primarily south of Atlanta.

As part of the joint venture agreement, MiniLuxe will take a majority stake, through a new company, in a Sugarcoat store located in the Forum Peachtree Corners in Atlanta. The brands will collaborate over the coming months on sharing best practices, and MiniLuxe intends to test and launch its brand through a conversion of the existing Forum site.

The Peachtree Corners Forum site is part of a mixed-use outdoor entertainment center that currently houses tenants including Trader Joe’s, Ulta and Lululemon. The center will also include a boutique hotel and a modern, organic-focused food hall, currently under construction.

“I am thrilled to partner with MiniLuxe for their commitment to clean practices and improving our industry,” said Kim, founder of Sugarcoat. “I have long admired their brand and look forward to what we can do together in Atlanta and beyond.”

“Ms. Kim is a great entrepreneur and strong leader who has launched a profitable and growing brand in the Atlanta area. We are excited to learn from each other and explore the opportunities that can come from sharing best practices and brand conversion,” said Mr. Tjan, CEO of MiniLuxe.

In connection with the establishment of the Joint Venture, the Company granted a total of 100,000 stock options to Ms. Kim pursuant to its Stock Incentive Plan, exercisable at US$0.52 for a period of 2 years. All options were granted pursuant to the Company’s Stock Incentive Plan and are also subject to the applicable policies of the TSX Venture Exchange.

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About MiniLuxe

MiniLuxe is a Delaware corporation headquartered in Boston, Massachusetts. MiniLuxe is a lifestyle brand and talent development platform serving the beauty and personal care industry. The Company focuses on providing high-quality nail and aesthetic services and offers a trusted line of proprietary products that are used in the Company’s owned and operated studio services. For over a decade, MiniLuxe has been raising the bar in the industry through healthier, ultra-hygienic services, modern design aesthetics, socially responsible labor practices, and better-for-you, cleaner products. MiniLuxe aims to radically transform the highly fragmented and under-regulated nail and personal care industry through its brand, standards, and technology platform that collectively enable best-in-class experiences for talent and customers. For its customers, MiniLuxe offers cutting-edge personal care services and better-for-you products, and for nail and beauty professionals, MiniLuxe seeks to become the employer of choice. In addition to creating long-term sustainable economic returns for our stakeholders, the brand seeks to positively impact and empower one of the most diverse and largest segments of hourly workers through professional development and certification, economic mobility, and business ownership opportunities (e.g., equity participation and future franchise opportunities). Since its inception, MiniLuxe has completed over 4 million services.

For more information

Christine Mastrangelo
Corporate Secretary and Investor Relations, MiniLuxe Holding Corp.

[email protected]
miniluxe.com

Neither the 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.