European Wax Center Continues Its Path Of Unprecedented Market Growth
Beauty Lifestyle Brand is the Dominant Leader in the Out-of-Home Waxing Market
NEW YORK, Nov. 16, 2016 /PRNewswire/ -- David Coba, CEO and co-founder of European Wax Center™ (EWC) announced today an increase of over 28% in guests serviced from 2015 to 2016*. Although the waxing category continues to experience growth in the beauty market (as an example between 2014 and 2015, out-of-home waxing increased by 1 million female users), EWC is in a category by itself and continues to grow at a greater rate than the category increasing its already dominant market share.
Currently, EWC has 790 franchises that have been awarded nationwide and over 578 opened, taking reservations and providing beauty services. EWC's network has extended its footprint to 20 of the top 25 Designated Market Areas in the country. Its nearest competitor has less than 70 locations. To say it is the dominant player in the marketplace is an understatement. And the company started on this path to unprecedented growth during the biggest economic downturn since the Great Depression.
In 2008, while others were closing doors, EWC was opening new centers and entering new markets. A noteworthy point about this family company is their long-view approach and commitment to preserving the company's culture (grooming upcoming staff and promoting from within and a high employee retention rate), which has resulted in continuous year over year growth.
David Coba commented, "We are very fortunate to have so much excitement and loyalty for our brand from both guests and associates. EWC has continued its strong trajectory of growth and has developed as a leading beauty lifestyle brand by continuing to provide outstanding professional services by highly trained associates in an upscale, modern and comfortable setting. Our proprietary products are also designed to take home the ability to extend and maintain the EWC experience. As we like to say 'guests Walk In and Strut Out' – we make women feel beautiful and unapologetically confident in their beautiful skin. Ultimately that is what it is about."
This past year, EWC provided 15 million services to over 10.2 million guests compared to 11.7 million services to 8 million guests in 2015. The most popular service, bikini waxes were up over 30% to 5.7 million. Brow services increased by 29% over 2015 to 3.4 million and lip services were up over 30%.
Late Spring also brought the introduction of Strut 365™, a proprietary portfolio of three new product collections in the skincare, body and brow categories consisting of 27 SKUs.
The Strut Smoothly™ (Signature) Collection includes five high performance products developed to optimize skin between waxing.
The Strut Lavishly™ (Body) Collection is designed to provide daily care and enhance skin between waxing and includes a Body Wash, Body Lotion, and a Body Polish.
The Strut Boldly™ (Brows) Collection is all about brows and includes everything guests need to create Browfection™ with six brow perfecting products and tools.
This past year retail product unit volumes increased 44% over 2015.
EWC's continued success can only be attributed to their exceptional professional guest care, premium quality services, and a belief that luxurious waxing is about helping everyone find their version of confidence and gorgeous.
For more information about EWC or to book reservations, visit:
http://www.waxcenter.com/reservations.
*Percentages and guest service count reflect numbers reported as of September 30, 2016
About European Wax Center
European Wax Center was founded by siblings David and Josh Coba in 2004. The concept was simple: to bring the EWC unique waxing experience to women and men in a setting with a modern environment featuring crisp, clean lines, private waxing suites, and providing the most professionally trained waxing experts, with exceptional service. And the first wax is always complimentary (brows, underarms, bikini line for women, nose, ears and brows for men). Now, a luxurious waxing with proprietary products can be incorporated into everyone's beauty regimen. European Wax Center enables everyone to reveal beautiful skin, and, today, European Wax Center is recognized as the fastest growing company in the beauty lifestyle services category. In just twelve years, EWC has grown from four centers to almost 800 nationwide. For more information about EWC or to inquire about a franchise log onto waxcenter.com.
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SOURCE European Wax Center
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