‘Dumb luck’: Why cosmetic injections are booming

He said people turned to pampering themselves and paying more attention to how they looked in the age of Zoom meetings when they are on screen more than usual.

“People can’t travel, they’re spending more on themselves,” Mr Perelman said.

“We feel there’s been quite a step-change. People are looking at themselves a lot more.”

New customer numbers had risen by up to 40 per cent from June through mid-September, which had been the busiest period in the company’s history, he said.

Expansion strategy

The business was founded by Mr Perelman in 2009 in the upmarket Adelaide suburb of Hyde Park.

He said it was fortunate the company had not yet pursued its Victorian expansion strategy before the pandemic.

“It was a bit of dumb luck to be honest,” Mr Perelman said.

There had been strategic plans in place, but the company had instead been focusing on bedding down an acquisition in Sydney and expanding elsewhere first.

“Victoria is still on our agenda to grow nationally,” he said.

SILK Laser Clinics aims to open a further five stores over the next few months before Christmas, and Mr Perelman said it had been open and honest with major landlords through the shutdowns, which had positioned it well for the next phase of expansion.

“Both gave a little bit,” he said of the robust but respectful negotiations with shopping centre landlords including Scentre Group, Vicinity Centres, Stockland and AMP.

“We didn’t get everything we wanted,” he said. “It was a tough time for everybody.”

Mr Perelman said the business had tried to take a constructive approach to landlord negotiations.

Elsewhere in retail, major players such as Just Jeans and Smiggle owner Premier Investments have been at war with big landlords for months.

Premier’s executive chairman, Solomon Lew, is attempting to overturn traditional rental agreements based on fixed rent, and pay a proportion of the turnover of a store.

One of SILK Laser Clinics’ main rivals is Laser Clinics Australia, acquired by US private equity group KKR in 2017 for more than $600 million.

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