Excelsior Capital Vietnam Partners to invest in 30Shine

June 21, 2023 | 14:53
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Excelsior Capital Vietnam Partners, a private investment fund under Excelsior Asia Capital of Switzerland headquartered in Hong Kong, is poised to finalise its interest in male grooming chain 30Shine, according to insider sources disclosed by DealStreetAsia.
Excelsior Capital Vietnam Partners to invest in 30Shine

Excelsior Capital Vietnam Partners aims to make a substantial investment into 30Shine, a chain of men's grooming salons backed by STI Holdings. It is estimated that the size of the investment could be as much as $15 million. An inside source for DealStreetAsia has suggested that the deal is close to concluding all requisite formalities. 30Shine has declined to offer any comment on these developments.

Founded in May 2015, 30Shine is the largest chain of male grooming salons in Vietnam. By 2018, the company was serving over two million customers a year, with an impressive customer retention rate of nearly 80 per cent. The following year, it had expanded to 66 stores nationwide, employing a workforce of 2,300. The chain currently boasts over 80 branches across the country and nearly 100 including its expansion into Thailand.

In contrast, the Filipino brand Bruno, which commenced operations in 1990, currently operates 40 outlets, while Thailand's Never Say Cutz has established just over 20 modestly sized establishments in Bangkok.

Excelsior Capital Vietnam Partners, known for its investment acumen, primarily directs its financial resources towards nurturing small- and medium-sized enterprises operating in sectors with significant growth potential and developmental opportunities.

These sectors encompass healthcare, pharmaceuticals, medical services, education, and consumer-oriented industries such as manufacturing, distribution, retail, and logistics.

Excelsior Capital Vietnam Partners has previously invested in SIS Group, which operates the SIS International General Hospital in Can Tho, as well as Khoi Nguyen Education Group.

In February, Excelsior Capital Asia became a strategic partner of Blue Circle, which owns bicycle retail chain Xedap.vn. The funding was utilised for the expansion of Xedap.vn’s retail chain and build up a product portfolio to meet the growing demand for green transport in Vietnam, while developing a technology platform to build a nationwide cycling community and connect various sporting activities.

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