Australian hair and beauty retailer Oz Hair and Beauty will open 10 new storefronts throughout the country in a multi-million-dollar investment.
Its newest location opens this month at Sydney’s Macquarie Centre.
Anthony Nappa founded Oz Hair and Beauty in 2012, after his parents owned and maintained hairdressing salons in Sydney for many years, including their flagship Oz Hair salon in the Queen Victoria Building (QVB) since 1986.
A group of investors, including Edison Growth Fund Accent Group, Accent Group CEO Daniel Agostinelli, and billionaire businessman Brett Blundy, purchased a share in the company for an undisclosed price, after Oz Hair and Beauty generated $2 million per month and it was expected to treble its revenue to $40 million by 2021.
“Over the years Oz Hair and Beauty has successfully grown and pivoted in tune with changing retail trends and that has helped it emerge as one of Australia’s leading hair and beauty retailers,” said Accent Group CEO Daniel Agostinelli.
“Its physical move into customer strongholds across the country showcases a savvy and customer-centric approach. I believe the next two years will be exciting as it takes its omnichannel retail model to the next level.”
The brand operates six physical stores and salons in Sydney’s Penrith, Castle Hill, and QVB, including at Erina Fair on the NSW Central Coast and Charlestown in Lake Macquarie, NSW.
Oz Hair and Beauty plans to expand to 15 stores by the end of this year, taking its employee count to 165. Three more stores are planned for Sydney, including Rouse Hill, and one each for Canberra Centra, Green Hill in NSW’s Maitland, and key locations in Brisbane and the Gold Coast.
