Pink Parlour acquires Sylvia’s Secrets Beauty Salon in its first investment acquisition for growth for 2020
Summary: Parlour Group Pte Ltd which owns Pink Parlour seeks to expand its footprint across Asia through beauty salon investments and buyouts. It recently acquired Sylvia’s Secrets, a popular name for beauty services, especially with expatriates.
Regional Hair Removal Specialist Chain, Pink Parlour, made its first investment in its drive for accelerated growth in Asia. They believe Sylvia’s Secrets and Pink Parlour are compatible and can be a great potential synergies from the buyout that would benefit each other’s clientele and employees. These include diversified offerings to an enlarged customer base, operational economies of scale, improved productivity and cost efficiencies as well as sharing of best practices. It will also help employees achieve better flexibilities and opportunities for cross-training and skills enhancement.
Sylvia’s Secrets has been in the business since 2004, and over the past 16 years has gathered a lot of industry accolades and appreciation from customers for their expertise in beauty therapy and service standards. Sylvia’s Secrets owner, Mdm Dipti Jadhav, sees a huge benefit from the acquisition and commented that “clients can now tap a wider range of services like IPL and Men’s Brazilian Waxing to our exquisite Facials and Skin Treatments listing. Additionally, we also benefit from accessing Pink Parlour’s network across Singapore and other outlets across the region. This improves the financial stability of package protection and setting refunds and warranties to protect our client interests.”
Pink Parlour, on the other hand, is a Hair Removal Specialist that provides various services like Brazilian Wax, IPL and Spray tanning. It’s presence is felt in Singapore, Malaysia, Philippines and Indonesia. Parlour Supply provides beauty products to S.E. Asian beauty salons with a focus on hair removal products, tanning, nails and whitening. To complement Sylvia’s Secrets, Parlour Group, will provide its management expertise to improve overall business processes and marketing aspects. Meanwhile, Sylvia’s Secrets will continue to do what they do best, which is to focus on providing great quality service that delights their customers year after year.
The demand in beauty services is slated to increase again by 10% in Asia to USD$467 million dollars according to the Beauty Resources Asia Annual Industry Report 2018. The group hopes to take a larger dominant stake in each country they open and strongly believe the acquisition trail is the best way to unlock quicker financial returns, on top of the fact that they were able to cut cost by 20%.
When asked about the recent acquisition of Sylvia’s Secrets, Derrick Seeto, Parlour Group's President and Franchise Director, said “Our newly acquired clients as well as our own clients can now visit additional outlets from top to bottom and we hope to expand our urban location offering with another 2 more acquisitions which I believe will benefit all parties concerned as well as strengthen Pink Parlours overall branding and service standards.”
Clients of both brands can avail $100 worth of facial treatments in Sylvia’s Secrets or GT Aesthetics when they spend above $500 services in Pink Parlour. Just use this code GlowUpPP. This promotion is valid till November 30.