New name, new products for Skinwell Holdings franchise
At the Johannesburg Stock Exchange (JSE) on Tuesday 6 March 2012, JSE-listed Skinwell Holdings Limited announced its new trading name and brand as Imbalie Beauty and its acquisition of the Perfect 10 franchise. This acquisition makes it one of the largest beauty franchise companies in the country, complementing its current Placecol skin care clinics, Dream Nails beauty salons and World of Beauty salons.
CEO Esna Colyn explained how the group’s new name would better reflect its status as a multiple-branded beauty franchisor. “The word ‘Imbalie’ is derived from the Zulu word for flower and is appropriately symbolic of our group’s holistic and comprehensive beauty offering, which encompasses skincare, nail care, hair care and various other beauty products and services.”
She added that the new name and brand also spoke of the potential inherent to the group, “While we’ve been able to announce very positive developments today, we remain extremely cognisant of the fact that our journey towards sustainable and profitable success is still in its early stages. Our achievements up to this point speak of the commitment and long-term focus within the group, captured in the promise of our new name and logo: a flower poised to bloom.”
Colyn reflected that it was the ideal time to launch the new brand, especially while welcoming Perfect 10 to the stable. “This acquisition of 55 salons to our national footprint will bring us closer to achieving our vision of being the best and most desirable beauty franchise company in South Africa. We will also significantly enhance our presence in KwaZulu-Natal.”
Beyond being an earnings-enhancing acquisition, Colyn added that the acquisition would provide the group with the critical mass necessary to negotiate better fee structures from suppliers and financial institutions. “We will additionally be able to take advantage of synergies between it and other salons in the group with respect to training, marketing and advertising, as well as leverage our national gift and loyalty card systems, enabling further cross-selling.”
As the rollout of the new brand gets underway this month, Perfect 10 franchisees can also look forward to a tailor-made roadshow that will welcome them to the stable. “We will be using our roadshow as an opportunity to establish mutually beneficial relationships and build on our collective strengths. With both parties bringing significant value to this acquisition, it is critical that we use this additional momentum to drive synergies and catalyse the achievement of our long-term objectives. This will enable us to move ever closer to our mission of making a positive change in the world through self-improvement and self-empowerment and by increasing the self-esteem of our customers,” concludes Colyn.