Regis Completes Sale of Opensalon® Pro to Zenoti

Rhea-AI Summary

Regis Corporation (NYSE: RGS) announced the successful sale of Opensalon® Pro (OSP) to Zenoti, a leading technology provider for the beauty sector. This strategic move positions Zenoti as the exclusive salon technology platform for all Regis brands, enhancing digital engagement across their salons. Regis, which has nearly 5,700 locations worldwide, will start transitioning to Zenoti's platform in July. This collaboration aims to modernize customer interactions for Regis' three million monthly salon clients.

Positive

• Successful sale of Opensalon® Pro (OSP) to Zenoti, enhancing technology capabilities.
• Zenoti will serve as the sole salon technology platform for Regis brands, optimizing operations.
• Expected to improve customer engagement for over three million salon visitors monthly.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- Regis Corporation (NYSE: RGS), a leader in the haircare industry, announced today the completion of the sale of Opensalon^® Pro (OSP) to Zenoti, the leading technology provider for beauty, wellness, and fitness businesses. Zenoti will become the sole salon technology platform for all of Regis’ brands. With this relationship, Zenoti will help Regis deliver a modern, digital experience to drive engagement with its three million salon customers every month. Regis salons will begin transitioning to the Zenoti platform as early as July.

About Regis Corporation

Regis Corporation (NYSE:RGS) is leader in the beauty salon industry. As of March 31, 2022, the Company franchised, owned or held ownership interests in 5,697 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 information about the Company, please visit the Investor Information section of the corporate website at www.regiscorp.com.

About Zenoti

Zenoti powers more than 20,000 beauty, wellness and fitness business in more than 50 countries. Its comprehensive, cloud-based, mobile-led solution elevates the guest experience, unifies the brand, and streamlines operations. Zenoti enables users to seamlessly manage every aspect of running a service business in a comprehensive mobile solution: online appointment bookings, POS, CRM, employee management, inventory management, built-in marketing programs and more. Features include a powerful branded app with automated payments for a great guest experience, a complete suite of business tools for marketing and operations, employee training modules to motivate and retain staff, and cutting-edge solutions like industry benchmarks, to help the business make better decisions. To learn more about Zenoti, visit www.zenoti.com.

This press release contains or may contain “forward-looking statements” within the meaning of the federal securities laws, including statements concerning anticipated future events and expectations that are not historical facts. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this document reflect management’s best judgment at the time they are made, but all such statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed in or implied by the statements herein. Such forward-looking statements are often identified herein by use of words including, but not limited to, “may,” “believe,” “project,” “forecast,” “expect,” “estimate,” “anticipate,” and “plan.” In addition, the following factors could affect the Company’s actual results and cause such results to differ materially from those expressed in forward-looking statements. These factors include whether and when the closing conditions will be satisfied and whether and when the transaction will close, whether and when the Company will be able to realize the expected financial results, and how franchisees and customers will react to the transaction. Additional information concerning potential factors that could affect future results is set forth under Item 1A on Form 10-K. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. However, your attention is directed to any further disclosures made in our subsequent annual and periodic reports filed or furnished with the SEC on Forms 10-K, 10-Q and 8-K and Proxy Statements on Schedule 14A.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220630005305/en/

REGIS CORPORATION:

Kersten Zupfer

investorrelations@regiscorp.com

Source: Regis Corporation

FAQ

What is the significance of the sale of Opensalon Pro by Regis Corporation?

The sale of Opensalon Pro to Zenoti enables Regis to utilize advanced salon technology, improving customer engagement and operational efficiency.

When will Regis salons transition to the Zenoti platform?

The transition of Regis salons to the Zenoti platform is expected to begin in July.

How many locations does Regis Corporation operate?

As of March 31, 2022, Regis Corporation operates, franchises, or has interests in 5,697 locations worldwide.

What is the stock symbol for Regis Corporation?

The stock symbol for Regis Corporation is RGS.