Nov 16, 2023

Sean Bock, formerly of Drybar, to lead new franchising efforts Boston, MA, Nov. 16, 2023 (GLOBE NEWSWIRE) -- MiniLuxe Holding Corp. (TSXV: MNLX) announced today that Kelley Morrell, current CFO of Wonder Group and former Senior Managing Director of Blackstone, has been appointed to join MiniLuxe’s Board of Directors subject to final shareholder approval at the Company’s annual meeting to be held on December 1, 2023. The Company also announced that it is partnering with Sean Bock, longstanding head of franchise divisions for service retail brands including Drybar and Heyday, to serve as MiniLuxe’s Franchise Development Officer. MiniLuxe will launch its franchising plans together with Mr. Bock in the first half of 2024. Kelley Morrell is a highly experienced investor and operating executive with a proven track record of delivering exceptional returns for investors. She is currently the Chief Financial Officer at Wonder Group, a company that was founded by entrepreneur Marc Lore and is redefining at-home dining and food delivery. Ms. Morrell is also the founder of Highline Capital Investments, a family office supporting female and minority-founded businesses. Ms. Morrell’s experience includes serving previously as Senior Managing Director of the Blackstone Group, where she led a global team across Blackstone’s private equity strategies and was co-chair of the Blackstone Women’s Initiative. At Blackstone, she led market-leading deal transcations including Spanx and Bumble where she also held board and interim executive positions. “We are thrilled to welcome Kelley Morrell to our board of directors,” said Stefanie Jay, Chief Business and Strategy Officer of eBay and Chair of MiniLuxe’s Board Governance Committee. “Kelley’s track record of driving value creation through brand and operational excellence while disrupting industries is a huge asset to MiniLuxe. It also goes without saying that her own values are squarely aligned with MiniLuxe’s mission,” added Ms. Jay. Sean Bock will also expand MiniLuxe’s capabilities as the company announces today its intention to develop a franchise program to complement its studios which perform nailcare, waxing and esthetic services. Mr. Bock brings relevant experience having spearheaded and led Drybar’s and Heyday’s franchise programs. In addition to designing and driving MiniLuxe’s franchise program, Mr. Bock will also support the company’s efforts on any acquisitive conversions (acquisitions of other nail care locations to be converted into MiniLuxe branded units). “MiniLuxe is one of the most exciting brand platforms that I have ever come across with a mission to radically change its industry. Having worked with other mission-based service concepts and seeing the impact franchising can make, I could not be more excited by MiniLuxe’s potential to grow through franchise partners who share in the company’s purpose, standards and values,” says Mr. Bock. “The biggest lesson we have learned with our MiniLuxe studio business is that performace is directly correlated with having the right leader in any given store location. Franchising is one of the best vehicles we know that can scale localized entrepreneurship in a capital-efficient manner. As we have continued to optimize our studio performance and studio-level economics, especially studio volume growth, we are especially excited about marrying this strong base with Sean Bock’s expertise to our brand and growth journey,” said Tony Tjan, CEO of MiniLuxe. Ms. Morrell and Mr. Bock will receive incentive options as a part of their compensation and have also made commitments to become investors in the company. About MiniLuxe MiniLuxe, a Delaware corporation based in Boston, Massachusetts is a digital-first, socially responsible lifestyle brand and talent empowerment platform for the nail and waxing industry. For over a decade, MiniLuxe has been setting industry standards for health, hygiene, high quality services, and fair labor practices in its efforts to transform the nail care and waxing industry. Underlying MiniLuxe’s mission and purpose is to become one of the largest inclusionary educators and employers of diverse self-care professionals across our omni-channel ecosystem and talent empowerment platform. Today, MiniLuxe derives its revenue streams from nail care and waxing services across an omni-channel ecosystem with company-owned studios and off-premise partnerships. The company also develops and sells a proprietary retail and e-commerce line of clean nail care and waxing products that are also used in MiniLuxe services. MiniLuxe is driven by a fully integrated digital platform that manages all client bookings, preferences, and payments and provides designers with the ability to manage scheduling and client preferences, track their performance and compensation, and access training content. Since its inception, MiniLuxe has performed over 3 million services. www.miniluxe.com For further information 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.