The Shaver Shop has grown from a small family business to a full-bearded company ready to float on the share market.
The grooming products retailer was established 30 years ago by husband and wife team Gary and Mary Tyquin, as an electric shaver repair shop in Melbourne.
It has since expanded into a specialised retailer for men and women with 100 stores in Australia and New Zealand, the latest opening on Friday, with plans for a $98 million share market float.
The pace of its growth has rapidly increased since it was sold in 2011 to a private consortium led by investment banker and Melbourne Racing Club chief executive Brodie Arnhold.
Among its board members are Rip Curl co-founder Brian Singer and Craig Mathieson, the nephew of billionaire poker machines magnate Bruce Mathieson.
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Chief executive Cameron Fox, who held senior roles with Gillette Australia before joining the Shaver Shop in 2006, said the company has never once had to close a store, with all achieving growth.
"The float is a natural progression for the business," he told AAP.
"We have had a lot of growth and success in the past five years after a group of high net worth individuals bought the business in 2011, and collectively they will retain about 50 per cent of equity in the business."
The Shaver Shop expects to list on July 1, with a market value of about $131 million.
Part of the proceeds from the offer of new shares will be used to reduce debt by $15 million, and to fund its plans to expand to 145 stores across Australia and New Zealand in three years.
The company made a pro-forma net profit of about $4 million in the 2014/15 financial year, and expects that to rise to $7.5 million in the current year.
