Shaver Shop Group Limited (ASX:SSG)
Shaver Shop (ASX:SSG) is an Australian speciality retailer of male and female personal grooming products and aspires to be the market leader in ‘all things related to hair removal’. With 120 owned and franchised stores across Australia and New Zealand and an ecommerce platform, the Company seeks to provide customers with a wide range of products, highest level of customer service and competitive prices. Shaver Shop’s principal product categories include electric shavers, clippers, trimmers, hair styling, female hair removal and men’s and women’s wet shave items.
Shaver Shop was established in 1986 primarily as a service centre for men’s electric shavers, offering spare parts and repairs. Since that time Shaver Shop has grown to become a market leader in hair removal and personal grooming for both mean and for women, with no significant direct competitor providing Shaver Shop’s full product offering. Growth has been achieved through initiatives including evolving the business model to appeal to a wider customer demographic, a well-considered store rollout program, a disciplined franchise store buy-back program, and an investment in the growth of the Company's online business. As the leading pure-play retailer in its category, where possible Shaver Shop seeks to work closely with global manufacturers to source the latest products, many of these on an exclusive basis.
Shaver Shop is focused on organic growth (including the buy-back of franchised stores) rather than acquisitions. This allows Shaver Shop to steadily and strategically expand its geographic footprint while maintaining a consistent retail offer and customer experience.
The Australian and New Zealand hair removal and personal grooming market is large and growing. The Company estimates the annual retail sales of the market segments that it operates in to be over $1 billion per annum in Australia, based on the current product offer. Market demand for hair removal and personal grooming products is underpinned by long term structural drivers, such as the increased consumer desire to look and feel good, as well as continued product innovation.