NEW YORK, Dec. 8, 2014 /PRNewswire/ -- Completely Bare CEO Justin Joffe announces big changes for the company, as it re-launches into a lifestyle brand with an eye toward explosive expansion, under the name Spruce & Bond. Founded in 1998, the company has become the leader in hair removal, developed cutting-edge techniques and performed a half a million treatments. The company is also renewing its commitment to its in-studio browlab, launched in 2013 with celebrity brow stylist Joey Healy (Who recently starred on BRAVO's "The Singles Project").
In order to expand the company into new markets, channels, and categories, private investment firm Kuzari Group recently made an add-on growth equity investment, which follows their initial investment in 2012. As part of this reinvestment, Kuzari recruited a new senior team including Joffe and CMO Sarah Bennett.
"We are tremendously excited about the future of the brand. Everyone at the company is extremely passionate about their role and invested in our new direction," said Joffe. "Our mission is to deliver the best experience for our customers and make hair removal something that you can actually look forward to."
Spruce & Bond will spend between 2 and 3 million dollars on the relaunch, marketing, advertising, as well as opening four to five new locations in the next year. Over the next five years, the brand projects investing between 15 and 20 million dollars on the expansion, opening of new markets and evolution of the brand into a lifestyle concept. The brand will also explore pop-up shops, express locations, at-home services, and shop-in-shops. Currently, the company performs approximately 5000 treatments monthly (50% wax, 33% laser, 17% brow), and expects this to more than double in the next 12 months.
About Spruce & Bond:
Spruce & Bond is the preeminent expert in hair removal. The company's high-tech meets comfy-chic studios have become a staple for New Yorkers in the know. Founded in 1998 by Cindy Barshop as Completely Bare, the brand re-launched in 2014 under the name Spruce & Bond streamlining their service offerings to be 100% focused on hair removal (wax, laser and brows). The brand has also updated their studios and amenities, as well as introducing new pricing that is simple and value-driven. www.sprucebond.com
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SOURCE Spruce & Bond
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