Madison Reed has entered into a new joint venture with Franworth for the expansion of Madison Reed Color Bars.
Franworth is a consulting firm focused on accelerating brand growth and value creation for franchisors and franchisees. According to Madison Reed, under the agreement, Madison Reed will continue to own, grow and operate Color Bars in select cities and, along with Franworth, develop best-in-class infrastructure to support future Color Bar franchisees. In addition, Franworth will design and deploy Color Bar franchisee recruitment efforts nationwide.
The new franchises will reportedly mirror the nine Color Bars operating in New York City, the San Francisco Bay Area and the Dallas-Fort Worth metroplex.
Amy Errett, CEO and founder of Madison Reed, said, "We have been trailblazers in omnichannel retail. We are excited to announce that the next channel in our growth strategy is franchising, which unlocks the ability to scale physical retail like no other.
"To us, being omnichannel means we have a relentless drive to meet the needs of our customers wherever they are. Our customers come first, and we want to support them regardless of whether they color at home or in a Color Bar. Our responsibility is to ensure that her experience is the same regardless if she is walking into an existing Color Bar, shopping online, coloring at home, or visiting a franchise location. She will get the same high-quality hair color and the same unique brand experience."