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CONSUMER PRODUCTS & SERVICES | Personal / Salon Services
thedrybar.com

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Founded Year

2010

Stage

Private Equity - IV | Alive

Total Raised

$97.65M

Revenue

$0000 

About DryBar Holdings

DryBar is a provider in the beauty industry, offering a no-cut, no-color hair blow-out salon. Drybar currently serves more than 100,000 women each month across 37 retail locations, and recently expanded distribution of its popular line of hair styling products and tools from 70 to more than 200 Sephora locations nationwide.

DryBar Holdings Headquarter Location

125 Technology Drive Suite 150

Irvine, California, 92618,

United States

310-773-4372

Latest DryBar Holdings News

WellBiz Brands Doubles Down On Personal Services With Drybar Deal

Feb 12, 2021

WellBiz Brands, Inc. WellBiz Brands, the owner of wellness, beauty, and fitness franchise businesses, is banking on high-touch personal services to be bigger than ever post-pandemic. Today it doubled-down on that bet with the acquistion of the franchisor rights for the Drybar blowout boutique chain. “Pre-pandemic and post-pandemic our broad thesis has been the same - we believe that we’re in maybe the second or third inning of this multi-decade phenomenon that is wellness,” WellBiz Brands CEO Jeremy Morgan told Forbes.com. “It’s not just healthcare, it’s how you feel, how you look, it’s emotional well-being.” Drybar now joins franchise brands Fitness Together, Elements Massage, and Amazing Lash Studio in the WellBiz portfolio, a portfolio Morgan describes as well-positioned to thrive even as much of retail goes digital. “You have to see a massage therapist to get a massage. You have to see a stylist to get a blowout,” Morgan said. “The need to have that human interaction to have our services doesn’t go away post-pandemic and should allow us to really be resilient as we come out the other side.” he said. WellBiz, in the deal announced today, is now the franchisor for the 141 Drybar franchise locations. Drybar Holdings LLC will switch from being the franchisor to the largest franchisee, and will continue to operate its 87 company-owned stores. The plan going forward will be for Drybar Holdings to gradually sell off stores to new franchise owners. MORE FOR YOU The purchase price and other terms were not disclosed. The WellBiz deal comes a year after Drybar Holdings sold its products line to consumer products company Helen of Troy for $255 million. WellBiz had been eyeing Drybar as a perfect fit for its portfolio for some time, but didn’t start talking to them about an acquisition until late last year. “The type of businesses that we look for as franchise brands are things that focus on a high income female consumer, with a membership approach, with personal services, one-on-one with another human, in a franchising context. So Drybar checks those boxes extremely strongly,” Morgan said. The pandemic, which forced hair salons to close for months, or limit the number of customers, hit the beauty business, and Drybar, in 2020, presenting a buying opportunity for WellBiz. While Covid challenged Drybar, WellBiz is betting it will bounce back quickly, and that there is potential for additional franchise growth. “We believe that there is just an incredible amount of pentup demand for folks that are ready to get back out there,” and who want to look good as the pandemic eases, Morgan said. “We think Drybar is super well-positioned to capitalize on the various outings and parties and events,” such as bachelorette parties, weddings, or regular weekend date nights. There are 141 Drybar locations, 87 of which were corporately owned by Drybar Holdings LLC, which now ... [+] will become a franchisee following the acquisition by WellBiz Brands, Inc. WellBiz Brands, Inc. Drybar was founded in 2010 by entrepreneur Alli Webb as a salon providing quick styling sessions known as blowouts for women looking for sleek, smooth, hairdos. “No Cut, No Color, Just Blowouts” was the Drybar mantra. Morgan said WellBiz will be able to grow Drybar “by being an excellent franchise operator and being an excellent franchisor operator, and help those franchisees drive results and reach their greatest potential.” WellBiz is the franchisor for more than 750 franchise locations for the Elements Massage, Amazing Lash Studio, and Fitness Together brands. The Colorado-based company was formed in 2008 after Fitness Together acquired the Elements Massage franchising rights. It added Amazing Lash Studios in 2018. The target consumer for all of the WellBiz brands is an upper-middle-income female. “She is wanting to take care of herself better than ever before,” Morgan said, “That includes how does she look, how does she feel. We think the Drybar brand in particular has such a strong following of those customers, and the synergy that comes from being really good at targeting that kind of customer is going to go a long way to being able to build something really special in the long run,” he said.

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Expert Collections containing DryBar Holdings

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

DryBar Holdings is included in 1 Expert Collection, including Beauty & Personal Care.

B

Beauty & Personal Care

1,711 items

Startups in the beauty & personal care space, including cosmetics brands, shaving startups, on-demand beauty services, salon management platforms, and more.

DryBar Holdings Patents

DryBar Holdings has filed 2 patents.

The 3 most popular patent topics include:

  • Hairdressing
  • Hairstyles
  • Home appliances
patents chart

Application Date

Grant Date

Title

Related Topics

Status

9/20/2017

10/29/2019

Hairdressing, Hairstyles, House types, Honeycombs (geometry), Home appliances

Grant

00/00/0000

00/00/0000

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Application Date

9/20/2017

00/00/0000

Grant Date

10/29/2019

00/00/0000

Title

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Related Topics

Hairdressing, Hairstyles, House types, Honeycombs (geometry), Home appliances

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Status

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