Family-owned Oz Hair & Beauty has secured a number of investors specialising in e-commerce, retail and hair care, and will lead to the business rolling out a nationwide network of experiential hair and beauty showrooms.
The investment will also allow the business to improve its online experience, expand its brand and category offering, and pursue greater market share in Australia’s $11 billion hair and beauty market.
The investment group is headed up by Edison Growth Fund, as well as BBRC, which has previously invested in businesses such as Bared Footwear and Accent Group.
“Attracting businesses of this caliber is a great milestone for us but it is really just the beginning,” said co-founder Anthony Nappa.
“We see great opportunity in our market and the added experience, support and capital will really help us to pursue these opportunities.
“The support we now have will enable us to deliver even more for our customer and brand partners, and it provides us with added resources to invest in growth.”
The deal also brings hair and beauty industry expert Ward Gauvin into the business, who will act as Oz Hair & Beauty’s executive chairman.
“We have the capital and the capability to invest in making everything we do be best-in-class,” said Gauvin.
“This includes investments in technology and data, content and marketing, and building upon [co-founders] Anthony and Guy [Nappa’s] focus on customer centricity.”