The skincare brand recently secured $20 million in funding and will use the money to expand its national footprint.
Heyday, the 10+ unit skincare start-up company with stores in New York, California and Pennsylvania, recently told Business Insider its plans to use its $20 million in Series B Funding to increase its number of franchise locations around the country. The funding was part of a deal led by the private equity firm, Level 5 Capital Partners.
Though "self-care" has long been a keyword in the industry, its prominence has risen during COVID-19, as people are seeking ways to ease anxieties brought on by the pandemic. CEO Adam Ross stated the larger goal is to shift the idea of facials from an annual professional treat to a regular part of people’s beauty routines. He said most clients receive a facial approximately once a year, with about a third of clients using the service on a monthly basis.
Expanding Heyday's national footprint is a crucial part of the company's growth plan. In the coming months, Heyday plans to add additional locations in Los Angeles and the greater Southern California region, as well as in cities such as Atlanta, Chicago and Miami.
According to Chris Kenny, managing partner at Level 5, Heyday particularly appealed to the firm because he believed that providing more accessible facials nationwide would be a lucrative venture.
"Heyday really was able to get through to me, not just at the ‘facial is a commonly known term’ level, but also that the need for it existed all the way to Columbus, Ohio, and every main street around because at the end of the day, it is your skin and it’s gender-neutral and it doesn't pick winners or losers," he said.
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