Regis Salons to trim about 50 brands, close stores
Regis Salons, an international hair salon chain, plans to eliminate at least half of its 50 brands and close some of its 7,500 company-owned stores across North America.
Star Tribune reported Regis chief operating officer Eric Bakken as saying that the firm will close less than 10% of its company-owned stores in North America, which does not include franchises.
Bakken said the chain will convert the salons operating under its weakest brand names to the firm's strongest brands, such as Hair Masters and Supercuts.
The US-based company has already transformed about 80 shops to its Supercuts banner, mostly in Chicago, with another 30 to 50 salons scheduled for a brand makeover later this year.
Last month, Regis said it was laying off 110 employees, or about 15% of its corporate employees. The struggling firm reported decline in sales for more than three consecutive years.
The Edina-based company owns, operates and franchises 12,700 hair salons worldwide, including, Cost Cutters, MasterCuts, Regis Salons, Supercuts and Sassoon Salon.
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