Detailed Description of Portfolio Companies of Fund III
|Features||Socie's aesthetic salons target middle to high end customers and enjoy strong brand recognition and reputation for high quality services to the customers. Benefiting from such brand recognition, Socie has opened salons in high-class department stores and luxury hotels and built loyal and affluent customer base. Its hair salons have achieved a high percentage of repeated customers with management expertise. Socie was the first in the industry to start overseas expansion and its success formula in Taiwan is expected to be applied to other markets in Asia for mid-term growth of its business.|
|Investment Pattern||Secondary Buyout
Acquisition of the shares from a fund and other existing shareholders
|Investment Theme||To strengthen marketing and promotion capability and establish management/business administration structure for further growth of aesthetic salon business by applying Polaris's value creation know-how obtained through past investments in retail and service sector, and to increase its enterprise value by adding new salons in Japan, expanding into overseas markets including Asia and, as a result, securing a leading position in the industry.|
|Date of Exit||January 2017|
|Exit Pattern||Trade sale of entire holding to Isetan Mitsukoshi Holdings Ltd.|
|Exit Story||Since our investment, Socie World Co., Ltd. has upgraded its business management method including adopting strict KPI based control and accelerated new shop openings in and outside of Japan, and solidified its position of an industry leading “total beauty” company with a newly acquired “eye beauty” business added to the existing high brand and globally recognized business portfolio. At the same time, Socie World Co., Ltd. has succeeded in the transition to a new management team by a combination of promotion from within and recruitment from outside.
In post-exit phase, Socie World Co., Ltd. plans to further enhance its enterprise value as well as its brand value through enjoying various synergy effects with Isetan Mitsukoshi Holdings Limited such as sharing the customer base among affluent segments, opening shops within Isetan Mitsukoshi department stores at prime locations in Japan and overseas and setting up new business in collaboration.