EUROPEAN WAX CENTER DRIVERS

European Wax Center's Recent Financial Performance

The waxing services market is highly fragmented, with at least 10,000 independent waxing operators and nearly 100,000 beauty salons that include waxing services in their offerings. Personal Waxing & Nail Salon Market (IBISWorld)

EUROPEAN WAX CENTER DRIVERS

The main drivers for this expected growth are available consumer discretionary spending on personal care services and products after a market slowdown in 2020 due to the COVID-19 pandemic.Īlso, below is a historical and current year chart showing the industry growth in recent years: The market is expected to grow by 5.8% in 2021. The estimated average annual growth rate of the market from 2016 to 2021 was 6.4%. personal waxing and nail salon market is an estimated $18.7 billion market. European Wax Center's Market & CompetitionĪccording to a 2020 market research report by IBISWorld, the U.S.

Management says the company is the largest franchisor of out-of-the-home waxing service locations in the U.S. The firm seeks business relationships with franchise owners and assists them in various aspects of site selection, financing and store construction. Management is headed by Chief Executive Officer, David Berg, who has been with the firm since October 2018 and was previously CEO of the Carlson Hospitality Group (global hotel business). Plano, Texas-based EWC was founded to develop a franchised and corporate-owned network of waxing services by licensed estheticians in the U.S. This macroeconomic concern combined with a potentially fully valued stock price means that I'm on Hold for EWCZ in the near term. economy through the next twelve months and am concerned this economic softness or recession will slow same-store sales results. Management appears to be executing well in a challenging economic environment, but I'm pessimistic on the U.S. The firm operates a mostly franchised network of waxing service providers in 44 states in the United States. ( NASDAQ: EWCZ) went public in May 2021, raising approximately $97 million in gross proceeds from an IPO that was priced at $21.50 per share. Robertprzybysz/iStock via Getty Images A Quick Take On European Wax CenterĮuropean Wax Center, Inc.

European wax center