We announce today that Pinklestar PTE. LTD., the sister holding company of Parlour Group, has acquired all of the beauty-related businesses of Parlour Group PTE. LTD. in its portfolio across Southeast Asia — including Sylvia’s Secret, Datsumo Labo, JustWax, and Parlour Supply.
Parlour Group PTE. LTD. was founded in 2004 and has since earned the trust of 100,000 customers while employing over 200 talented people in the year prior to the acquisition. In order to provide high-quality services to its clients, the large corporation decided to narrow down its area of expertise.
This allows Parlour Group PTE. LTD. to concentrate more on its primary focus — the education business. The company will be divided into two divisions: Myglobalskills.com, its global digital E-learning brand, the Workforce Skills Qualifications Approved Training Organizations (WSQ ATO) for the Singapore market and a non-WSQ ATO for Southeast Asia.
Pinklestar PTE. LTD. will acquire a 50% stake in Parlour Group PTE. LTD., making it the majority owner alongside current owners Derrick Seeto and Wendi Chan, who each own 25% for an undisclosed sum. The company will assume all assets and liabilities of the beauty businesses and will continue to expand its portfolio through acquisitions in the same manner as Parlour Group PTE. LTD.
Pinklestar PTE. LTD. is an ACRA-registered company founded in 2010 and has been in operation in Singapore for 12 years. Their primary business is beauty salons and spas (including slimming, skincare, and hair care centers), with cosmetics and toiletries retail sales as a secondary business (including skin care products).
The owners of the companies believed that this acquisition would pave the way for a much more promising and brighter future. The management can now focus on expanding its education business through additional acquisitions, while its beauty business is in the capable hands of its new buyer, Pinklestar, who can clearly focus on everything about beauty.
“I'm excited about the possibilities this opens up for everyone in the coming years. This acquisition will help the company gain a competitive advantage in the market. The process aids in the achievement of market synergies. We believe we can move more quickly and with greater impact,” said Wendi Chan, Head of PG Training. “We believe this acquisition is a smart and practical move for both companies. I am confident that we will have many more achievements to be proud of in the future.”
“I’m confident about this next move for us. We created ground-breaking beauty services, brought them to market, and had a great time doing it. Our jobs will be the same as they were the day before. Our goals and vision will remain the same in the future: to help the world be confident in its own bodies,” said Derrick Seeto, President of Pinklestar. “Fortunately for us, we've had amazing, passionate customers who provided invaluable feedback and helped guide the direction of our product. We created our solutions with the belief that if we built and delivered what customers wanted, we would be able to build a healthy, thriving business. We made the decision to acquire the remaining Parlour Group beauty businesses because I believe we can take our incredible teams and technologies and harness the company's resources to provide faster and more efficient services to our clients, while also acknowledging that this is an incredible and rarely experienced milestone for all of us along the way.”
President of Pinklestar