Novena Global Lifecare gains access to AI tech with $350m Xingkeduo merger

By Amanda Lim contact

- Last updated on GMT

Novena Global Lifecare has completed a $350m merger which will give it access to Xingkeduo’s proprietary AI technology. ©Novena Global Lifecare/Xingkeduo
Novena Global Lifecare has completed a $350m merger which will give it access to Xingkeduo’s proprietary AI technology. ©Novena Global Lifecare/Xingkeduo
Singapore Healthcare and aesthetic firm Novena Global Lifecare has completed a $350m merger which will give it access to Xingkeduo’s proprietary AI technology, e-commerce platform and its physical network of stores across China.

Xingkeduo is an express hair salon chain powered by Artificial Intelligence (AI).  According to the company, it has served more than three million customers and over six million sales transactions made online.

The merger with Xingkeduo will make China the largest market for Novena Global Lifecare.

A new hybrid concept

Terrence Loh, co-founder of DORR Group, which owns Novena Global Lifecare, believes China and South East Asia are the most promising markets for beauty and medical care.

“We believe we are well-positioned to seize opportunities, especially in its highly fragmented aesthetic healthcare market. There’s definitely room for a well-run, well-funded integrated practice that provides affordable and accessible healthcare and medical aesthetics services to the mass market.”

The company revealed that plans are underway for the development of a hybrid store that offers “complementary medtech-based aesthetic and hairdressing solutions driven by AI”.

Willy Chuang, founder of Xingkeduo, believes this hybrid concept is the future for the newly integrated businesses.

“China has the most developed and active e-commerce retail system in the world... We analysed the prospects of the service industries and the healthcare sector, and we believe that… the customer experience will not be limited to the store, but consist of a seamless online-to-offline experience, covering a full range of on-demand products and services, including customised aesthetic and medical solutions.”

Accelerating existing brands

The company will also accelerate the development of Xingkeduo and NOVU, its medical aesthetics brand.

Novena Global Lifecare plans introduce its medical aesthetics brand, NOVU, to China and reinforce its presence in the APAC market.

“With the experience of Xingkeduo in China’s beauty market, the resources of the company’s shareholders and the Beauty OS system built for the company’s business, we are confident that we will continue to be a trailblazer in China’s medical beauty and medical care markets, bringing more choices for Chinese consumers,” ​said Nelson Loh of DORR Group, parent company of Novena Global Lifecare.

Additionally, the company plans to leverage Xingkeduo’s proprietary AI technology to upgrade NOVU stores worldwide.

“It would further improve our retail and service quality, and disrupt the current industry model and cost structure. We strongly believe that in the future, whether in Singapore, China, or even in Asia and Latin America, we can use this model to empower customers to have more customised products and services.”

The company will also use its expertise in the medical aesthetic sector to expand Xingkeduo’s services with medical care services such as scalp management and hair transplants.

Chuang said: “Xingkeduo has been able to evolve and scale up from a hair salon offering express haircuts to one offering its own brand of professional scalp care and hair styling products to target customers’ needs, not only in stores but also on e-commerce platforms. With Novena Global Lifecare’s participation, we are confident that we can grow our combined business exponentially in China and beyond.”

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