Supercuts® to Enter India Market Through Master Franchise Agreement
20 Setembro 2023 - 7:30AM
Business Wire
Master Franchise Agreement to develop a minimum
of 100 new salons opening across India in the next 5 years
Regis Corporation (NYSE: RGS), a leader in the haircare
industry, today announced that it is entering into a Master
Franchise Agreement with Ravissant Style Private Limited, a
corporate affiliate of Ravishing Style, LLC, an existing franchisee
of Supercuts locations in the U.S., to launch the Supercuts® brand
in India.
With more than 2,000 locations across the U.S., Supercuts is set
to enter India with a strategic Master Franchise Agreement. Through
this agreement, Ravishing Style is expected to open no fewer than
100 salons within the first five years, with a vision to grow
further through exclusive sub-franchising rights across Northern
and Western India. This strategic collaboration heralds a
transformation of the Indian salon landscape, with the goals of
elevating the current customer experience in India and establishing
a new and captivating standard within the salon sector.
Neeru Jain Wadhwa, CEO, and Alok Wadhwa, President of Ravishing
Style, shared: "Supercuts is poised to offer a differentiated
customer experience for the Indian market. Rooted in Supercuts
tradition, we anticipate rolling out a comprehensive salon
experience, featuring expert haircuts, masterful coloring,
highlights, hair spa treatments, rejuvenating facials, nail
services, professional makeup application, and exclusive Indian
bridal services. Our commitment to superior quality and customer
satisfaction will shine through in every service."
Matthew Doctor, President and Chief Executive Officer of Regis
Corporation, emphasized, "This agreement marks an important
milestone in Regis Corporation's growth strategy. India, a market
full of long-term growth potential, is primed to experience the
first large-scale, U.S.-based salon brand in the country. We are
thankful to Alok and Neeru for pioneering these efforts, which we
hope will not only unlock further growth throughout India, but also
set the stage for entry into other countries around the world."
"Regis remains committed to partnering with skilled operators
equipped for international expansion," said Michael Ferranti, Chief
People Officer of Regis. "We will continue to seek out and respond
to interested parties as we look to take our established brands to
more markets with growth potential."
About Regis Corporation
Regis Corporation (NYSE:RGS) is a leader in the haircare
industry. As of June 30, 2023, the Company franchised or owned
4,863 locations. Regis' franchised and corporate locations operate
under concepts such as Supercuts®, SmartStyle®, Cost Cutters®,
Roosters® and First Choice Haircutters®. For additional information
about the Company, including a reconciliation of certain non-GAAP
financial information and certain supplemental financial
information, please visit the Investor Information section of the
corporate website at www.regiscorp.com.
This press release contains "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. These forward-looking statements
include statements regarding the ability of Ravishing Style to
develop, open and successfully operate salons in India. 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. The following factors could
affect the Company’s actual results and cause such results to
differ materially from those expressed in forward-looking
statements: the ability of Ravishing Style to develop and grow the
Supercuts brand in India, the impact of the local economy and
macroeconomic factors on potential employees and customers in
India, the impact of compliance with local India laws and
regulations on operating salons and the Company’s ability to
enforce the terms of the Master Franchise Agreement. Additional
information concerning these and other potential factors that could
affect future results is set forth under Item 1A of 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 and 10-Q.
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version on businesswire.com: https://www.businesswire.com/news/home/20230920890128/en/
REGIS CORPORATION: Kersten Zupfer
investorrelations@regiscorp.com
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