XWELL Grows Footprint Outside the Airport with Acquisition of Naples Wax Center
12 Septembre 2023 - 10:30PM
XWELL, Inc. (Nasdaq: XWEL) ("XWELL" or the "Company") today
announced the acquisition of Naples Wax, LLC (“Naples Wax Center”),
a group of upscale hair removal boutiques in Florida. In a
transaction valued at approximately $1.5 million, the acquisition
allows the Company to expand outside the airport and is intended to
increase revenue and drive profitability.
“This is a great day for XWELL as we move
wellness outside the airport and advance our strategic objective to
grow our business serving a completely new set of customers,” said
XWELL Chief Executive Officer Scott Milford. “The addition of
Naples Wax Center enables us to move beyond our airport client base
with a business we can adapt to our larger wellness platform while
also growing their retail footprint to serve our long-term
financial expectations.”
Known for providing a memorable customer
experience, Naples Wax Center currently operates three
high-performing locations with core products and service offerings
from face and body waxing to a range of skincare and cosmetic
products. The acquisition of Naples Wax Center allows us to explore
cross-service promotion opportunities as well as expansion of our
retail base and XWELL Rewards Program benefits.
“At our core, XWELL is focused on providing
wellness and self-care for people on the go and we’ve always
recognized that included evolution beyond the airport,” Milford
added. “Today’s transaction also creates new compelling
opportunities that accelerates our growth potential. First, we
intend to leverage geographic synergies and lower out of airport
costs to grow the Naples Wax Center portfolio by 8-10 additional
locations during the next 12-18 months. Additionally, we will
continue adding new acquisitions that complement XWELL’s out of
airport growth strategy with the goal of making wellness and
self-care more approachable to more customers.”
As part of this acquisition, XWELL plans to
retain the existing staff of Naples Wax Center and will be
deploying training and development to ensure a seamless transition
and the continued delivery of exceptional services. Local guests
can expect a smooth integration process that preserves the legacy
of Naples Wax Center while introducing the service excellence that
defines XWELL. Naples Wax Center customers will receive access to
the XWELL Rewards Program and will soon earn valuable points that
can be used for products and services across our family of
brands.
The Company also announced that it has named
Brandon Stewart, a founder and managing partner at Naples Wax
Center, as Director of Development. In this role, Stewart will
continue to oversee the operations of Naples Wax Center. He will
also support the growth of XWELL’s new off-airport retail division
— both at Naples Wax Center’s as well as other off-airport business
models currently under consideration.
Milford concluded, “Although our first
acquisition has taken time to bring to fruition, we had to
thoroughly and comprehensively review several alternatives before
we landed on acquiring Naples Wax Center. However, this initial
step in our evolution was an essential one and boosts the speed in
which we will identify and absorb future businesses into our
portfolio. As we look ahead, I not only see traditional retail unit
growth, but I also see XWELL extending its reach across other
transportation hubs such as train stations and other travel venues.
Further, I believe adding out of airport growth along with the
ongoing international expansion of our spa brand and the continued
improvement of our US airport spa model, establishes a sustainable
and profitable business serving millions of customers
globally.”
About XWELL, Inc. XWELL, Inc. (Nasdaq:
XWEL) is a leading global health and wellness holding company
operating four brands: XpresSpa™, Treat, XpresCheck® and
HyperPointe™.
- XpresSpa is a leading airport retailer of wellness services and
related products, with 36 locations in 15 airports
globally.
- Treat is a travel wellness brand and a fully integrated concept
blending technology with traditional brick and mortar offerings to
provide a holistic approach to physical and mental well-being for
travelers.
- XpresCheck is a provider of screening and diagnostic testing in
partnership with the CDC and Concentric by Ginkgo, conducting
bio-surveillance monitoring in its airport locations to identify
new SARS-CoV2 variants of interest and concern as well as other
pathogens entering the country from across the world.
- HyperPointe is a leading digital healthcare and data analytics
relationship company serving the global healthcare
industry.
Forward-Looking Statements
This press release may contain "forward-looking"
statements within the meaning of Section 27A of the Securities Act
of 1933, and Section 21E of the Securities Exchange Act of 1934.
These include statements preceded by, followed by or that otherwise
include the words "believes," "expects," "anticipates,"
"estimates," "projects," "intends," "should," "seeks," "future,"
"continue," or the negative of such terms, or other comparable
terminology. Forward-looking statements relating to expectations
about future results or events, including the Company’s current
plans and expectations relating to the business and operations and
future store openings for Naples Wax Center, are based upon
information available to XWELL as of today's date and are not
guarantees of the future performance of the Company, and actual
results may vary materially from the results and expectations
discussed. Additional information concerning these and other risks
is contained in the Company’s Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K, and other
Securities and Exchange Commission filings. All subsequent written
and oral forward-looking statements concerning XWELL, or other
matters and attributable to XWELL or any person acting on its
behalf are expressly qualified in their entirety by the cautionary
statements above. XWELL does not undertake any obligation to
publicly update any of these forward-looking statements to reflect
events or circumstances that may arise after the date hereof.
Media Nicki
DurazoMWW ndurazo@mww.com
XWELL (NASDAQ:XWEL)
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