The pound may be volatile, and house prices challenging (never mind the cost of renewing your rail pass), but the co-founders and joint CEOs at Rush salons are on the up financially! Andy Phouli and Stell Andrews won a £16 million investment from a private equity firm LDC in 2016. They are using it to take their salon group to be the fastest growing in the UK with close to 100 salons and sales over £45million. Today the pair announce they have bought back the shares acquired by LDC as part of the deal, and they are once again sole owners of Rush. To make it a family concern, they also appointed to the board Andy’s son (and Stell’s godson) Peter Phouli. Respect! Celebrating their 25-year anniversary, Rush has been on quite a journey and we’re stoked to share news that is clearly down to brilliant business acumen.
Stell adds: “We believe in mixing our business model with a more creative approach to challenge the ‘traditional way of doing things’ in retail. Peter brings a real flair for innovation and will help drive our Company forward by using digital technologies for a better client experience at Rush. It is, indeed, is very much in line with our overall vision for the Company.”
Throughout the 25 years, Andy and Stell have continued to innovate whilst putting their colleagues and clients at the centre of everything they do. Peter says: “We are in the business of making people feel special. With our vision of becoming the employer of choice, this is a phrase we use frequently within our business. We believe that both our colleagues and clients are part of the Rush family.
“We plan to strive for digital innovation in the industry and to listen to what our clients want. This is reflected by the fact we are repositioning our brand values in order to meet the needs of clients. In addition, increasing our focus on quality of product and service even further, to ensure every client experience at Rush is a truly great one.”
Further commenting on the buy-back Andy says: “We are really proud of what we have achieved in the past 25 years. We have certainly come a long way since those early days when we opened the salon in Wimbledon.”
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