haircolorxpress sells development rights in four states

haircolorxpress International LLC (HCX), the nation's first franchisor of salons offering hair-color and custom-blended cosmetic services, today announced it has sold to haircolorxpress International Development Partners LLC (IDP) the rights to develop HCX salons in Ohio, Tennessee, Rhode Island and Massachusetts ? excluding the greater Boston metropolitan territory, which was previously sold to another development agent.

The agreements, which call for IDP to develop 468 salons in the four states, increase IDP's holdings to 13 development territories and a commitment to open a total of 1,133 salons by 2010. With these transactions, HCX increases its representation to 21 states and the District of Columbia and commitments to open 2,612 salons by 2010.

"We're continuing to receive overwhelming interest from entrepreneurs with diverse backgrounds who are seeking viable investment vehicles," said Larry Feldman, CEO of haircolorxpress International. "The team at IDP is a driving force behind our growth and will help us to bring haircolorxpress salons to every state."

haircolorxpress International LLC is the first national franchisor of salons specializing in hair-color and custom-blended cosmetic services. The company provides hair colorists the opportunity to own and operate their own businesses and deliver to consumers high-quality, affordable services. Haircolorxpress' salons feature Wella brand hair-color products and have been recognized as Salons of Distinction by Salon Today, one of the industry's leading trade publications. Headquartered in Fort Lauderdale, Fla., haircolorxpress currently has 14 salons open in Florida, New Jersey, New York and Washington, D.C., and plans to open an additional five salons nationwide by the end of 2002.