Novena Global Lifecare completes $475.4m merger with Xingkeduo

Novena Global Lifecare now has access to Xingkeduo’s AI-based platform and physical network of nearly 100 stores.

Novena Global Lifecare completed its $475.4m merger with Xingkeduo, a Chinese express haircut business with nearly 100 stores in China.

The merger will see an accelerated expansion of Xingkeduo and Novena’s NOVU Aesthetics brand in China. Plans for the creation of a one-of-a-kind hybrid store format offering complementary medtech-based aesthetic and hairdressing solutions driven by Artificial Intelligence (AI) are reportedly underway.

The merger will also introduce NOVU’s skincare technology to Chinese consumers, leveraging the Beauty OS system to accelerate the service upgrade of NOVU stores around the world.

Novena Global Lifecare’s Executive Chairman and co-founder Nelson Loh will serve as chairman, while DORR Group and Novena Global Lifecare’s CEO and co-founder Terence Loh and Xingkeduo’s founder Willy Chuang will be co-CEOs.

The merger is the first deal arising from the $27.16m strategic investment made by Sinopharm Capital and Cedarlake Capital into Novena Global Lifecare last month.

Founded in 2015, Xingkeduo claims itself as the first company in China to combine hairdressing with online-to-offline commerce for online orders and queue reservations. Meanwhile, Novena Global Lifecare is an integrated medical healthcare and aesthetic company with over 100 clinics in 20 cities.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


UOB deploys AI tools to level up employees’ productivity
The bank with the largest consumer footprint in ASEAN leads the way in adopting Microsoft’s Copilot for more collaborative and productive banking.
Italy brings its strong suits to Singapore’s fintech expo
Italian trade executive says 9 firms at the Singapore Fintech Festival 2023 exemplify the diverse range of products and expertise Italy can bring to the table.
Trust Bank sets the bar for digital banking in Asia Pacific
The digital bank targets to be Singapore's fourth largest retail bank, CEO Dwaipayan Sadhu said.