Drybar
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| Drybar | |
| Founded | 2008 Brentwood, Los Angeles, California |
| Founders | Alli Webb, Michael Landau, Cameron Webb |
| Headquarters | |
Number of locations | 92[1] |
| Revenue | US$70 million (2015)[2] |
| Parent | Drybar Holdings LLC |
| Website | thedrybar |
Drybar is a California-based chain of salons that provides a hair styling service known as blowouts. The company was founded in 2010 by Alli Webb.[3]
History
[edit]In 2009, Alli Webb began a side business called Straight At Home, which provided an at-home hair experience.[4] As demand quickly outgrew the one-woman operation, Webb noticed a "huge hole" in her local market for a business that provided solely hair blowouts,[5] a concept that had already gained traction in larger cities such as New York City with brands like "Blo".[6] In 2010, along with her brother Michael Landau, Alli co-founded Drybar.[7] The following year, along with the help of friends, she raised $2.5 million to expand the business.[8] They added Castanea Partners, a Boston-based private equity firm, to their list of investors in January 2012.[9] Laura Mercier Cosmetics founder and former CEO Janet Gurwitch joined the company's board, as well Paul Pressler, the former president and CEO of Gap the same year.[10]
In 2019, the American consumer goods corporation Helen of Troy acquired the Drybar trademark for $255 million in cash.[11] In 2021, WellBiz Brands, Inc. acquired the Drybar shops' franchise rights.[12]
Style of business
[edit]Everything at Drybar is referenced using the “bar vernacular”. The cashiers are called “bartenders” and hairstyles are named after cocktails, such as the Cosmo, Mai Tai, or Manhattan.[8] The idea behind this came from Webb. Webb’s vision is present in the designs of architect Josh Heitler.[13] Heitler, principal of a boutique architectural firm and now a partner in the company,[8] came up with the design elements and look of Drybar.[3] Instead of the typical salon setup, clients at Drybar “sit facing a U-shaped or single-stretch bar, with their backs to the mirrors,” which brings to mind sitting at a bar rather than being at a salon.[3]
Locations
[edit]Drybar revenue grew from $1.5 million in 2010 to $19 million in 2012 and to $39 million in 2013.[14] As of January 2016, Drybar had 66[1] locations in 11 states, Washington DC and Vancouver, British Columbia.[5][15] As of November 2017, the number of locations had expanded to almost 90.[16] As of October 2018, the company has over 100 locations and 3000 employees. [17]
Products
[edit]Looking to increase revenue, Webb (along with the help of Board member and investor Janet Gurwitch) developed a line of products specifically for Drybar.
In 2013, after testing the line in about 70 Sephora locations, Drybar went ahead with 300+ Sephora shops and QVC to launch their line of products.[18]
The motto of Drybar is "No cuts. No color. Just wash & blowouts."[19] which is a reference to their primary service offering.
References
[edit]- ^ a b "About Us". thedrybar.com. Retrieved 1 November 2016.
- ^ O'Connor, Clare. "How Alli Webb Grew Drybar From Her Backseat To A $70 Million Blowout Chain". Forbes. Retrieved 19 February 2021.
- ^ a b c Meghan, Casserly (2012-11-11). "Drybar: How One Woman And A Hair Dryer Became A $20 Million Operation". Forbes.
- ^ "How Alli Webb Turned Drybar Into A $100M Business". Forbes. 15 May 2018.
- ^ a b Chan, Jennifer (2013-07-22). "Trendsetters at Work: Drybar Founder Alli Webb". E Online.
- ^ Moratto, Anne. "Modern Exclusive: An Interview with the CEO of Blo Blow Dry Bar".
- ^ Garfinkle, Madeline (2022-10-31). "The Team That Built Drybar is Out to Conquer an Entirely New Industry". Entrepreneur. Retrieved 2023-07-31.
- ^ a b c Bronner, Sasha (2013-06-19). "Drybar's Alli Webb Talks Borrowing Money and How to Make a Blowout Last: My LA". Huffington Post.
- ^ Naughton, Julie (2012-01-19). "Drybar, Castanea Partners Ink Deal". WWD. Retrieved 2023-07-31.
- ^ "Blow Dry Wars Heat Up". Inc. Retrieved 31 July 2023.
- ^ "Helen of Troy to Buy Drybar Products Business for $255 Million". WWD. 2019-12-19. Retrieved 2023-07-31.
- ^ Verdon, Joan. "WellBiz Brands Doubles Down On Personal Services With Drybar Deal". Forbes. Retrieved 2023-07-31.
- ^ "With Drybar, a Curly-Haired Girl Wages a Global War on Frizz". The New York Times. 2015-04-25. ISSN 0362-4331. Retrieved 2018-05-08.
- ^ Meany, Kelsey (2013-07-13). "Blow Dry Bars Are a Thriving Industry Disrupting the Salon Business". The Daily Beast: Business.
- ^ "Find a Drybar Near You". Drybar.
- ^ "Drybar Founder: Life is too short to work someplace lame". 2017-11-15.
- ^ Anna LaPlaca (2018-10-31). "Drybar Founder Alli Webb Shares Her Best Style Advice". Who What Wear. Retrieved 2020-01-02.
- ^ Staff (2013-01-03). "Drybar Launches Product Line, Names New CFO". New York Business Journal.
- ^ Petrecca, Laura (2012-08-13). "No Haircuts or color: Blowdry bars are a booming business". USA Today.