Silk Laser Clinics sets ambitious goal as it plans to go public

By Sarah Stowe | 01 Dec 2020 View comments

Silk Laser Clinics has ambitious goals to open six to 10 clinics annually, with a goal of about 150 clinics.

To help achieve this target, the business is looking to raise about $83.5m through an initial public offering (IPO).

Private equity firm Advent Partners are behind the Silk Laser Australia business which has lodged its prospectus with ASIC.

Adelaide-based Martin Perelman, who is the CEO, founded the laser clinic firm back in 2009 and has helped build it up to a 53-clinic chain across the country.

Silk Laser Clinics delivers non‑surgical aesthetic products and services, focusing on laser hair removal, cosmetic injectables, skincare services, body contouring and fat reductions services.

Franchisees also sell own brand skincare products.

Martin Perelman said “Silk’s growth model is primarily focused on organic growth through growth in existing clinics and a network clinic rollout plan. This will allow Silk to expand its geographic footprint while maintaining a consistent offering and quality of client experience.

“Our mission is to enable all consumers to have access to high quality and high efficacy non‑surgical aesthetic treatments. We aim to do this by providing high quality client service, using advanced technology, at affordable prices.”

Martin said the market Silk operates in is estimated at an annual $5.4 bn.

“We believe market demand is driven by the growing popularity of beauty regimes and the increasing affordability of the related services, making them more accessible.

“Silk’s operations have been largely resilient to the impacts of Covid‑19, with June to September 2020 trading above average and increased new client numbers suggesting a change in performance that may be sustained going forward,” he said.

Silk Laser Clinics is expected to start trading on the ASX on Tuesday, 15 December 2020.