WellBiz has acquired the rights to the license for the Los Angeles-based chain Drybar, whose 114 locations were hit hard by the pandemic.
WellBiz Brands, Inc., a franchise portfolio company operating three distinct beauty, wellness and fitness brands – Amazing Lash Studio®, Elements Massage® and Fitness Together® announced today it has acquired the franchisor rights for Drybar® shops, through an affiliate entity. As part of the transaction, WellBiz Brands will add its fourth concept to its franchise portfolio and become the franchisor for 141 Drybar shops. Drybar Holdings LLC will continue to operate 87 Drybar shops as Drybar’s largest franchisee.
Founded in 2010 by Alli Webb, Drybar shops is an industry disruptor specializing in blowouts. Drybar’s philosophy is simple – No Cuts. No Color. Just Blowouts. Despite focusing on blowouts, Drybar knows it’s not just blowouts it’s selling, but the happiness and confidence that comes from the experience of visiting one of Drybar’s distinctive yellow-branded salons where the client can always count on the best music playlist, their favorite movies playing on the TV and being greeted with a glass of champagne. Drybar was named one of the top “100 Brilliant Ideas of 2010” by Entrepreneur Magazine and New York Magazine‘s Boom Brands of 2013.
“I’m thrilled to welcome Drybar shops into the WellBiz Brands’ franchise platform. At WellBiz Brands, we are focused on building best in class services that women love, and Drybar fits that mission perfectly,” said WellBiz Brands Chief Executive Officer, Jeremy Morgan. “Drybar is truly a category creator, with remarkable customer loyalty. I’m excited to support the brand’s trajectory by leveraging our expertise in franchising and personal care services. With the momentum already behind this brand, I have no doubt that we’ll be able to scale quickly and connect with more franchise partners.”
“Drybar has a passionate and loyal customer base and franchise system. Joining the WellBiz platform is a huge testament to the strength of Drybar shops. The synergy and scale of Wellbiz will help take Drybar to the next phase of growth,” stated Drybar Holdings LLC Chief Executive Officer, Liz Williams.
“I started Drybar because I wanted to create a beautiful place where woman could get a great blowout at an affordable price. At Drybar, it’s all about the experience and the way we make people feel. We aren’t just selling blowouts, it’s the happiness and confidence that come from amazing hair. I am excited to have a new partner, WellBiz, that understands and is committed to that vision,” said Alli Webb, Founder of Drybar.
Wellbiz Brands, Inc. is the nation’s premiere franchisor of beauty, wellness, and fitness brands. With more than 750 locations, WellBiz Brands is uniquely qualified to serve the growing needs of the affluent female consumer through recurring revenue, experience-based brands. WellBiz builds the capabilities of emerging consumer brands and enables them to accelerate scalable and predictable growth. The company’s multi-brand platform provides access to a robust platform of shared services, infrastructure and support. For the last three years the company has claimed three spots on the Inc. 5000 list.
Piper Sandler & Co served as financial advisor to Drybar Holdings, with Latham Watkins and Cheng Cohen serving as legal counsel in connection with this transaction. Polsinelli represented WellBiz Brands as legal counsel.
WellBiz Brands has assumed the license to use the Drybar trademark from Helen of Troy Limited. Drybar remains a registered trademark of Helen of Troy Limited.