XWELL Advances Expansion Plan Outside The Airport With Three New Naples Wax And Skin Care Locations
Portfolio Pulse from Benzinga Newsdesk
XWELL, Inc. (NASDAQ:XWEL) announced plans to expand its Naples Wax Center brand by opening three new locations in Naples, Cape Coral, and Tampa, Florida, in 2024. This expansion is part of a broader strategy to grow the Naples Wax Center portfolio by 5-7 locations in the Southeastern U.S. over the next 12 months. The move aims to strengthen XWELL's esthetic service foundation and retail and skin care offerings, marking a significant step in its strategy to increase retail revenue beyond airport locations. Additionally, XWELL plans to open a new XpresSpa location in New York's Penn Station in Q1 2024, focusing on wellness services for commuters and tourists.
February 14, 2024 | 1:13 pm
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XWELL, Inc. is expanding its Naples Wax Center brand with three new locations in Florida and plans to open a new XpresSpa in New York's Penn Station, indicating a strategic focus on growth outside airport locations.
The announcement of new Naples Wax Center locations and a new XpresSpa in a high-traffic area like New York's Penn Station demonstrates XWELL's aggressive expansion strategy and focus on diversifying its revenue streams beyond airport-based operations. This strategic move is likely to be viewed positively by investors, as it indicates growth potential and adaptability, potentially leading to an increase in stock price in the short term.
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