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