Gwyneth Paltrow isn't just an Oscar-winning actress. This year she invested in the nation's largest chain of blow-dry bars, Blo, with 50 locations and plans to add 30 next year.
She's not just an investor; she's involved in shaping the look of the salons and the services they offer. "I think my strengths are in anything aesthetic so the look of the salons, trends, social media," said Paltrow.
Paltrow said the investment happened organically, sparked by her investment in Tracy Anderson's fitness business. "We were opening our flagship studio here in Brentwood in Los Angeles, and I thought wouldn't it be great if we take this little space that we didn't know what to do with and put a blow-dry bar in it for our clients," says Paltrow. She said the response was so overwhelming that she and her partner in the venture, David Babaii (who is also her hairdresser), discussed opening more, and were introduced to Ari Yakobson, the CEO of Blo.