European Wax Center Recognized as a Featured Franchise in The Franchise Times' Exclusive Top 400 Ranking List

Rhea-AI Summary

European Wax Center ranked at No. 91 out of 400 in The Franchise Times Top 400, a ranking of the largest U.S.-based franchise systems by global systemwide sales. Combined annual sales at the largest U.S.-based franchisors increased by $26 billion or 3.8 percent last year.

Positive

• European Wax Center delivered record results in 2022, opening 91 net new centers - a 10.7% increase from 2021 - and generating a 12.8% sales increase to $899 million. European Wax Center revenue increased 16.0% to $207 million.

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• None.

PLANO, TEXAS, Oct. 23, 2023 /PRNewswire/ -- European Wax Center, Inc. (NASDAQ: EWCZ), the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States, is proud to be recognized and included in The Franchise Times Top 400. European Wax Center ranked at No. 91 out of 400 in the exclusive annual ranking of the largest U.S.-based franchise systems by global systemwide sales. The full ranking list is currently available on FranchiseTimes.com and featured in the current October issue of The Franchise Times.

The Franchise Times Top 400 ranks the country's biggest brands and shows major sales gains across leading franchise segments. The project is the culmination of a five-month research and reporting effort each year that results in the most credible and objective franchise ranking available. Combined annual sales at the largest U.S.-based franchisors increased by $26 billion or 3.8 percent last year, to $713.5 billion, according to the newly released report. The collection of systemwide sales data also provides useful insight into the franchise industry's performance as the shakeout continues following the COVID-19 pandemic. While some declined or plateaued, other industries saw percentage sales growth in the double digits last year.

The Personal Services category, which includes European Wax Center, was by far the fastest-growing industry sector. In fact, European Wax Center delivered record results in 2022, opening 91 net new centers - a 10.7% increase from 2021 - and showcasing that their superior unit economics generate sustained franchisee demand. The network generated a 12.8% sales increase to $899 million, and European Wax Center revenue increased 16.0% to $207 million.

"We are honored to have received such a high ranking by The Franchise Times - No. 91 out of 400 - and be recognized for our continued efforts to provide a best-in-class franchise business model," said David Willis, CEO of European Wax Center. "Commitments to expand their EWC portfolios from our current franchises demonstrate the model works for our most important stakeholders – our franchisee partners. Our success is a direct reflection of our committed franchisees, and we are deeply grateful to our dedicated team, passionate franchise partners, and loyal guests who continue to support and grow with us."

European Wax Center is expected to release its third quarter results in the coming weeks, which will include an update on continued franchise growth.

About European Wax Center, Inc.
European Wax Center, Inc. (NASDAQ: EWCZ) is the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States. European Wax Center locations perform more than 22 million services per year, providing guests with an unparalleled, professional personal care experience administered by highly trained wax specialists within the privacy of clean, individual waxing suites. The Company continues to revolutionize the waxing industry with its innovative Comfort Wax^® formulated with the highest quality ingredients to make waxing a more efficient and relatively painless experience, along with its collection of proprietary products to help enhance and extend waxing results. By leading with its values – We Care About Each Other, We Do the Right Thing, We Delight Our Guests, and We Have Fun While Being Awesome – the Company is proud to be Certified™ by Great Place to Work^®. European Wax Center, Inc. was founded in 2004 and is headquartered in Plano, Texas. Its network, which now includes more than 1,000 centers in 45 states, generated sales of nearly $900 million in fiscal 2022. For more information, including how to receive your first wax free, please visit: https://waxcenter.com.

 

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SOURCE European Wax Center

FAQ

What is European Wax Center's ranking in The Franchise Times Top 400?

European Wax Center ranked at No. 91 out of 400.

What was the increase in sales for the largest U.S.-based franchisors last year?

Combined annual sales at the largest U.S.-based franchisors increased by $26 billion or 3.8 percent.

How many net new centers did European Wax Center open in 2022?

European Wax Center opened 91 net new centers in 2022, a 10.7% increase from 2021.

What was the sales increase for European Wax Center in 2022?

European Wax Center generated a 12.8% sales increase to $899 million.

What was the revenue increase for European Wax Center in 2022?

European Wax Center revenue increased 16.0% to $207 million.

When will European Wax Center release its third quarter results?

European Wax Center is expected to release its third quarter results in the coming weeks.