Hair and beauty chain Rush to double salon numbers following £16m investment
Salon chain Rush, which is best-know for hair but also runs beauty salons, has secured £16 million of investment from private equity firm LDC to support a national rollout programme which could see it double its salon numbers within four years.
Rush reported having a record year in 2016, with the opening of 11 new salons, taking the total of UK units to 85, including three standalone beauty salons and a further three combined beauty and hair sites.
LDC, part of Lloyds Banking Group, will hold a minority stake in Rush and will help accelerate the national expansion of the brand as the company plans to fast-track the roll out and almost double its salon count over the next four years.
Launched over 22 years ago by hairdressers, Andy Phouli and Stell Andrew, Rush started as a single salon in Wimbledon. Its three beauty standalones are in Croydon, Sutton and Windsor, with beauty also available in its Wimbledon, Northwood and its flagship House of Rush in Picadilly, London (pictured).
This year, the company plans to open a training Academy, in London’s Covent Garden.
Stell Andrew, joint chief executive and co-founder of Rush, said: “Until now we have grown our business organically but felt the time was right to turbo-charge our expansion plans, which is why private equity investment is a natural next step for us. We are now in a position to substantially increase our national presence and bring the Rush brand to more customers across the country.”
LDC investment director Alastair Weinel added: “Rush has a proven scalable model. Its strong brand proposition means the business in an ideal position to push on and grow its UK footprint. The development of its training academy and continued innovation will further support the business’ status as the market-leading player in the hair and beauty sector.”