Med spa inventory and sales controls under scrutiny
A family office representative visited several med spas in New York in summer 2023 while assessing a possible acquisition, and reported weak controls. Staff at one clinic could take products from an unlocked supply closet without restriction, according to Fortune. Orders worth tens of thousands of dollars were reportedly placed from sticky notes or staff memory, and an unopened box of expired filler with a retail value of $50,000 was found in a supply room corner. The owner told the reporter she did not know how much she had sold over the previous three months. Fortune also reports that the aesthetics and wellness sector has grown from a few thousand practices to nearly 20,000 in under a decade.
Key facts
- The visit took place in summer 2023 as part of an acquisition assessment.
- A box of expired filler was found unopened in a supply room corner.
- The owner could not state recent sales totals for the last three months.
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Why it matters
The account points to weak inventory and financial oversight at fast-growing cosmetic clinics, a sector expanding quickly.
What changed
First published from Fortune