Highlights the Recent Acquisition of Naples Wax Center as Launch Pad for XWELL’s Out of Airport Strategy

NEW YORK, Oct. 09, 2023 (GLOBE NEWSWIRE) -- XWELL, Inc. (Nasdaq: XWEL) ("XWELL" or the "Company") today announced that XWELL’s CEO Scott Milford recently participated in an Investor Fireside Chat hosted by Water Tower Research.

As part of the investor presentation, Milford provided an update on the Company’s out of airport strategy including how its recent acquisition of Naples Wax Center is accelerating its growth potential. He recapped how Naples Wax Center is a foundational, profitable out of airport business that’s well-situated with multiple growth levers. These include a growing core skin-care business and a scalable operating platform. Milford reiterated plans to leverage geographic synergies and lower out of airport costs to expand Naples Wax Center’s portfolio by 8 to 10 additional locations in the next 12 to 18 months. He also highlighted the opportunity to cost-effectively integrate additional Wellness services into the Naples Wax Center model. Supported by the XWELL Rewards Program, these new offerings could include aesthetic services, facial rejuvenation, and/or minimally invasive cosmetic treatments like Botox and dermal fillers.

During the Investor meeting, Milford also introduced how XWELL plans to leverage the growth of the Gig economy by evolving their Treat brand. Additionally, he recapped the Company’s solid capital position and, as management focuses on reinvesting in the growth of its business and maximizing the profitability of each of their business units, Milford reiterated ongoing initiatives to drive revenue and reduce its overall cost structure.

A replay video webcast of the Investor Fireside Chat is accessible here.

About XWELL, Inc.

XWELL, Inc. (Nasdaq: XWEL) is a leading global health and wellness holding company operating multiple brands: XpresSpa®, Treat™, Naples Wax Center®, XpresCheck® and HyperPointe™

• XpresSpa is a leading airport retailer of wellness services and related products, with 30 locations in 14 airports globally.

• Treat is a travel wellness brand and a fully integrated concept blending technology with traditional brick and mortar offerings to provide a holistic approach to physical and mental well-being for travelers.

• Naples Wax Center is a group of upscale skin care boutiques in Florida and represents the first step in building the Company’s retail portfolio outside the airport.

• XpresCheck is a provider of screening and diagnostic testing in partnership with the CDC and Concentric by Ginkgo, conducting bio-surveillance monitoring in its airport locations to identify new SARS-CoV2 variants of interest and concern as well as other pathogens entering the country from across the world.

• HyperPointe is a leading digital healthcare and data analytics relationship company serving the global healthcare industry.