Cosmetique chain of beauty and cosmetic injectables clinics set to list on the ASX

With the lipstick effect well and truly underway in Australia, leading national cosmetic and injectables chain, Cosmetique, is primed to take advantage of significant growth opportunities in the market with its upcoming ASX listing.
 

The national chain will list under its parent company, Stormeur Ltd. The company is seeking to raise between $6,000,000 and $7,000,000 under the Public Offer through the issue of up to 35,000,000 shares at an issue price of $0.20 cents per share and has appointed Liquidity Technology Pty Ltd as lead manager to the Public Offer.
 

"We are looking forward to the next phase of growth for Cosmetique. It has already become one of the country's leading and most trusted cosmetic and injectables brands with 17 clinics across five states since I founded the business in 2017," Stormeur group chairman and managing director, Dr Vivek Eranki said.
 

"Listing the business on the ASX will enable the business to expand by raising funds to open new clinics, optimise existing ones and explore acquisition opportunities in wellbeing, health and personal services sectors including the addition of cosmeceuticals and skincare products complementary to the clinics' treatments.
 

"With new clinic sites already slated for 2025, the expansion will involve opening four new clinics in New South Wales and Victoria initially, with more planned for following years. Our aim is to be within 20 minutes drive from 90 percent of the Australian population."
 

Dr Eranki emphasised that the Australian market will continue to experience growth in the beauty and cosmetic sector as the population grows and awareness of the benefits of injectables compared to expensive and often risky cosmetic surgery procedures increases.
 

"The three most popular services across Cosmetique continue to be wrinkle relaxers, fillers and laser hair removal with patient data showing an increase in spend per treatment year on year with the wholesale price of product reducing in line with more competition in the supplier market," Dr Eranki added.
 
"Cosmetique sets itself apart in the market through its non-franchised model, ensuring consistent quality and standards across all locations. As Australia's first accredited cosmetic clinic chain, it offers a wide range of high-quality services with a strong focus on the patient experience. With a price beat guarantee, the business is more recession-resilient by appealing to cost-conscious consumers. Additionally, it caters to a younger demographic, providing a unique demographic dividend and a long-term customer base," Dr Eranki said.

"Additional client focused measures such as loyalty program initiatives and other developing partnerships and alliances in the complementary health and personal services sectors, including other clinics, cosmeceutical brands and wellness businesses​, mean the business is well placed to augment its footprint, customer base and revenue generation activities. The scalable business model is aimed at achieving consistency in operations, aligning staff with the service culture and spreading costs across multiple clinics to reduce overall operating costs​."
 

Liquidity was chosen to manage the IPO because it provides sophisticated investors with a digitally streamlined platform to manage their investments and gain early access to curated investment opportunities and offers members lower fees and reduced paperwork during the transaction process.
 

"2024 has been relatively slow in terms of IPO numbers so the timing of this offer in the lead up to Christmas is ideal as investors are eager for good opportunities," Liquidity, executive chair, Bryant Mclarty said.
 

"Cosmetique boasts a proven business model run by a consistent and highly qualified management team that is taking a strategic approach to further growing the business. The core team will remain in place to guide the business strategy in place and to ensure that the quality and consistency the business and brand have become known for remains.
 

"It is also the only IPO of this nature in this industry. There have been several major acquisitions in this space, KKR buying Laser Clinics Australia for $650m in 2017 and Wesfarmers acquisition of Silk Laser Australia for $180m in 2023, but this is the first IPO in this space so we believe it will be competitive."  
 

The core business model of the group is based on the provision of non-surgical cosmetic injectables with a range of other services available including laser hair removal, which is also a targeted growth area for the business.
 

The company's strong growth track record to date has been funded organically with no external fund-raising activities and is helmed by a strong, consistent management team with a track record of successfully navigating the cosmetic industry's competitive landscape and necessary regulatory compliance hurdles.
 

Cosmetique was Australia's first cosmetic injectables clinic to achieve accreditation under the National Safety and Quality Primary and Community Healthcare Standards (NSQPCH) through the Australian Commission on Safety and Quality in Health (ACSQHS). This accreditation, importantly, indicates compliance with industry safety and quality standards.
 

"We have always looked to adhere to the highest possible standards and invested in regular ongoing staff training across our network, while using technology to our advantage to reduce HR and administration costs without impacting the customer experience," Dr Eranki said.
 

"We have been able to attract and retain clients, both because we are priced competitively but offer a high quality and level of service and have a data base of clients which is now in excess of 90,000. All of this means we are extremely well placed to achieve growth in the future. Exciting times ahead!"
 

Dr Eranki will retain over 60 percent shareholding in the group and will continue to helm the business focusing on its ongoing strategic growth and development. While the initial focus is on further domestic expansion, the team is looking closely at the markets in Asia, Indonesia, the Philippines and India in particular, where there is a huge growing middle class and where the growth in the cosmetic industry has been exponential.

About Dr Eranki
 

Dr Vivek Eranki is the CEO of Cosmetique. He holds qualifications in governance, finance, management and medicine and has an extensive track record as a CEO in the Health, Wellness and Personal Services industry. He has founded, scaled, and exited ventures across various sectors, including Allied Health, Occupational Health, General and Specialist Healthcare
 

Website: https://vivekeranki.com
Linkedin: https://www.linkedin.com/in/vivekeranki
Twitter: https://www.instagram.com/vivekeranki
Instagram: @vivekeranki
 

About Cosmetique
 
Cosmetique is Australia's First Accredited Cosmetic Clinic. With locations in Queensland, South Australia, Victoria, Western Australia and New South Wales, they are home to some of Australasia's most skilled and experienced injectors. They are passionate about providing everyday Australians with exceptional cosmetic medical services to enhance their confidence and allow them to feel the way they deserve. Above all, they abide by the principles of professionalism and utmost care to ensure their patients experience the highest quality service and outcomes.  Their most sought-after treatments include lip fillers, dermal fillers and wrinkle relaxers.
 

https://www.cosmetique.au/
Instagram: @cosmetique.au
TikTok @cosmetique.au