MiniLuxe, the revolutionary nail and beauty care chain, today announced the closing of $23 million in Series C expansion capital led by Horowitz Group and founding investor Cue Ball, alongside co-investors including Murano Group, Silverado, Beechwood Capital, Valley Oak, and the founder of the MIT Media Lab.
Founded in 2007, MiniLuxe has gained cult status with its discerning clientele in Boston, where it operates eight stores offering nails, brows, and waxing services. The company has consistently won 'Best of Boston' awards thanks to its environmentally-friendly products, architectural store design, maniacal focus on quality, and hygiene standards inspired by the city's famous hospitals.
MiniLuxe's approach contrasts with industry norms. Despite being the most-used beauty service in the country, nail care remains the least regulated. Top issues in the industry include poor labor practices, prevalent toxic chemicals, unfit hygiene standards, and lackluster client service.
'When my partners and I founded MiniLuxe, we had a vision to transform an industry - to 'Starbuck' the nail salon - and this is just one more step towards that goal,' said Tony Tjan, CEO of Cue Ball and Chairman of MiniLuxe. 'The MiniLuxe team has succeeded thus far because they understand that things must first start with a clear purpose and then innovate from there. They've built systems to bring self-care and elevated service to everyone.'
'Our innovations flow from our purpose, which is to celebrate self-care,' said MiniLuxe CEO Sue Thirlwall. 'In order to care for others, you have to start with yourself. This mantra is at the core of who we are and how we look to design a better career path for our amazing nail technicians and estheticians, whom we call Brand Ambassadors. We still have a lot of work to do, but aim to become the employer of choice in this industry that still lacks many common sense standards.'
MiniLuxe brings an unusual level of talent and capital to an industry known more for infections than innovation. 'They're redefining what a nail salon can be,' said Adam Horowitz, who led this round and is also a lead investor in the L.A.-based Lemonade restaurant group. 'Through the health and quality standards of their services and the data science behind the business, MiniLuxe can elevate an entire industry.'
The investor group in this round is notable for their permanent capital bases and experience as the leaders and backers of lifestyle brands such as Chipotle, Lemonade, and Blue Bottle Coffee.
About:
MiniLuxe is a nail and waxing services provider best known for its medical-grade hygiene, service, and client experience. The company was founded in 2007 by the Partners of Cue Ball. www.MiniLuxe.com
Horowitz Group is a Southern California-based investment group that targets private equity and real estate opportunities. It was an early capital provider to multi-unit brands such as Sprouts Farmers Market and Lemonade Restaurant Group (www.LemonadeLA.com).
Cue Ball is a Boston-based venture firm that focuses on seed through late venture stage investments across enterprise internet, digital media, and consumer branded services, differentiating itself by its human-capital focus, permanent capital pool, and unique base of value-add investors. www.cueball.com
Murano Group is a privately-owned, San Francisco-based holding company with investments primarily in consumer branded companies and food and beverage related businesses such as Copain Wines and A.G. Ferrari Foods. www.murano-group.com
Silverado Interests is a Dallas-based investment group with extensive experience in commercial real estate. Founding partners Rick and Dan Slaven have led transformational investments in the Southern United States by bringing together longstanding investment relationships, best in class concepts, and deep industry expertise. www.silveradointerests.com
Beechwood Capital is a Boston-based investment group that invests in growth and venture stage consumer companies. The partners founded and built The Holmes Group into an $800 million branded consumer products leader. Investments include Genetic Denim, IdeaPaint, Robert Graham, and Violet Grey. www.beechwoodcap.com
Other investors include Barrier Island Capital, Valley Oak Investments, and Nicholas Negroponte, the founder and Chairman Emeritus of the MIT Media Lab.