MiniLuxe Inc. owned subsidiary of MiniLuxe Holding Corp. announced the first "store-in- store" launch of Paintbox (acquired last year by MNLX) with a new Boston outpost for Paintbox and plans to launch a ready-to-wear Paintbox press-on product offering that allows clients to experience nail art at home and on-the-go. Based in New York City and founded in 2014 by beauty editor and trend expert, Eleanor Langston, Paintbox has been redefining the nail-care industry through its creativity and proprietary modern nail art designs. The brand's expansion builds on Paintbox's extensive history of collaborations with high fashion and luxury brands and leverages MiniLuxe's base of
existing nail studios that offer a new channel for Paintbox services and products. MiniLuxe used its South End location in Boston to test this new Paintbox store-in-store format that includes some of Paintbox's most popular nail art looks that will now be part of MiniLuxe's talent certification program. The footprint of less than 200 square feet presents the opportunity for a fast payback and if the test proves successful, an opportunity for scale across other MiniLuxe studios and new partner channels. Additionally, since MiniLuxe's acquisition of Paintbox, the average order value has been at near a 50% premium to MiniLuxe's historical AOV, pointing to an opportunity for MiniLuxe to continue to add higher gross margin premium offerings.