Excelsior Asia Capital considers investment in Vietnamese male grooming chain

Phi Nhat

Jun 22, 2023 / 06:52 PM

Beauty and personal care sales in Vietnam are expected to grow steadily on 2023-2027 with an estimated revenue of US$2.9 billion in 2027.

Excelsior Capital Vietnam Partners, a private equity arm of Excelsior Asia Capital, is looking to invest in Vietnamese male grooming chain 30Shine.

A 30Shine showroom. Photo: 30Shine

The deal, reportedly at $15 million between Excelsior Capital Vietnam Partners (ECVP) and 30Shine, is almost complete, according to DealStreetAsia.

A 30Shine representative told The Hanoi Times that he had no confirmation on the date of the deal.

Founded in May 2015 and backed by Simple Tech Investment (STI), 30Shine is the largest and only chain of male hair salons in Vietnam. Its unique model combines traditional male grooming with modern technology.

In 2020, 30Shine was a phenomenon in the male grooming industry in Southeast Asia, according to the Korean newspaper Asia Economy.

Currently, the chain has over 80 salons across the country, with an expansion plan in Thailand.

According to Statista, Vietnam's beauty and personal care market is expected to grow steadily between 2023 and 2027, with revenue to reach an estimated $2.69 billion in 2027.

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