XWELL acquires Naples Wax Center for $1.5M, expands outside airport

XWELL, Inc.

Acquisition of Naples Wax Center, a group of 3 upscale waxing boutiques in Florida, for ~$1.5 million.
Plans to add 8-10 new locations over the next 12-18 months using geographic synergies and lower off-airport costs.
Brandon Stewart, co-founder of Naples Wax, appointed Director of Development to lead off-airport retail expansion.
Customers gain access to XWELL Rewards Program and cross-service promotions across family of brands.
Transaction marks first step in building a retail portfolio outside airports, targeting revenue growth and profitability.

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