Business
European Wax Center Announces Commercial and Operational Updates Including New Partnership with Dolabra Digital
Reaffirms Fiscal 2024 Outlook PLANO, Texas, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Today, European Wax Center, Inc. (NASDAQ: EWCZ) (the “Company” or “European Wax
About this update from European Wax Center, Inc.
[{"type":"text","content":"Reaffirms Fiscal 2024 Outlook\nPLANO, Texas, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Today, European Wax Center, Inc. (NASDAQ: EWCZ) (the “Company” or “European Wax Center”), the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States, announced several strategic Commercial and Operational updates as the Company continues to focus on its key initiatives of attracting new guests, retaining first-time guests and winning back lapsed guests. These updates include a new partnership with dolabra digital llc (“Dolabra”), a leader in data-driven strategy, and a realignment of its Commercial and Field Operations teams. David Berg, Executive Chairman and CEO of European Wax Center, Inc. stated, “Since stepping back into the CEO role last month, I’ve focused on taking decisive action to reposition European Wax Center for sustainable, long-term growth. Today, we are announcing deliberate measures that we believe will help drive top-line growth and four-wall profitability. First, we are excited to launch a unique performance-based partnership with Dolabra designed to streamline and enhance revenue generation and guest engagement.” Mr. Berg continued, “Further, we are realigning our Commercial and Field Operations teams in order to best position our associates and franchisees to deliver on our key initiatives. As part of this realignment and renewed focus on improving our core waxing business, we believe it is prudent to pause the expansion of our laser hair removal pilot beyond our existing New York centers at this time. While we continue to believe in its long-term potential, this decision will best allocate our resources in the near term.” New Partnership with Dolabra Digital LLC European Wax Center is launching a partnership with Dolabra, a leading data-driven strategy and revenue transformation expert whose team has over 100 years of technology management experience. Dolabra will focus on enhancing guest acquisition, engagement and loyalty with the goal of driving sustained growth and operational efficiency for the Company. “We are excited to partner with David and his team at European Wax Center, the undisputed industry leader in out-of-home waxing,” said Mark Pinho, a founder and Managing Partner at Dolabra. “We believe there is a tremendous opportunity to drive growth for the Company and to b...