Blowpro, the blow-dry bar and product company founded by Stuart Sklar and David Maleh in 2005, has been acquired by Farouk Systems Inc.
While both companies declined comment on the acquisition price, industry sources estimated that Blowpro sold for about $10 million.
Basim Shami, chief executive officer of Farouk Systems Inc., is using the Blowpro acquisition to create a separate company, to be called Beauty Elite Group. Blowpro is expected to be “the first of many prestige professional beauty acquisitions,” noted Shami.
Shami has named his nephew, Basel Badran, as general manager of Blowpro. “Blowpro is a unique brand with a strong identity — it has unlimited potential,” said Badran.
“We filled an untapped white space in the industry and the consumer response and passion has been amazing,” said Sklar. “We are happy that the brand will have a new home with the resources and support to continue to flourish and make its unique mark within the industry.”
Blowpro products are sold in North America and Europe, with U.S. doors including Macy’s Herald Square, Nordstrom, Ulta, HSN, salons and blowpro.com. In addition to its freestanding Manhattan unit, the brand has in-store service outposts in select Nordstrom doors and Macy’s Herald Square.