Business
Regis® Partners With Industry Leaders for Product Distribution as Part of New Merchandising Strategy Upon Shift to Asset-Light, Fully Franchised Business Model
MINNEAPOLIS--(BUSINESS WIRE)-- Regis Corporation (NYSE:RGS), a leader in the haircare industry, whose primary business is franchising, owning, and operating
About this update from Regis Corporation
[{"type":"text","content":" MINNEAPOLIS--(BUSINESS WIRE)--\nRegis Corporation (NYSE:RGS), a leader in the haircare industry, whose primary business is franchising, owning, and operating technology-enabled hair salons, announced it is outsourcing product distribution as part of an asset-light, fully franchised model to Beauty Systems Group and SalonCentric Inc.\n\n“Our new distributors will deliver competitive pricing, promotional benefits, best-in-class educational assets, and ongoing support to our franchisees to help their businesses grow. This is an exciting change for all Regis brands and franchisees as we enter a new chapter for merchandising and adjust our infrastructure to conform to an asset-light, fully franchised business model” said Felipe Athayde, Chief Executive Officer.\n\nTogether, the distributors bring online ordering portals, more than 1,800 store locations and increased distribution points across the United States and Canada for faster access to products. Regis’ private label brands, designline®, Blossom Pure Haircare®, and a new men’s line, PrototypeTM, will be distributed exclusively by the partners to Regis franchisees.\n\n“Beauty Systems Group is excited to partner with Regis and their franchisees as one of their primary distributors. The Regis salon network fits well with our geographic reach across North America and we look forward to serving their franchisees and strengthening our relationship,” said Mark Spinks, President of Beauty Systems Group.\n\nBertrand Fontaine, President of SalonCentric added, “SalonCentric is delighted to welcome Regis to the SalonCentric family. Our knowledgeable and passionate teams will provide Regis franchisees with industry-leading educational and digital support, as well as guidance in growing their salon businesses. We look forward to offering innovative solutions, product knowledge and quality customer care to our new partner.”\n\nAbout Regis Corporation\n\nRegis Corporation (NYSE:RGS) is the world’s largest and leading hair salon company. As of March 31, 2021, the Company franchised, owned or held ownership interests in 6,221 worldwide locations. Regis’ franchised and corporate locations operate under concepts such as Supercuts®, SmartStyle®, Cost Cutters®, Roosters® and First Choice Haircutters®. Regis maintains an ownership interest in Empire Education Group in the U.S. For additional informat...