Non-surgical cosmetics group Stormeur has launched a $7 million capital raising to fund the opening of four new Cosmetique clinics along Australia’s east coast.

The company announced an initial public offering (IPO) last month based on a growth strategy that includes two new clinics in Sydney and two in Melbourne, to be established within 24 months of listing on the Australian Securities Exchange (ASX).

It also hopes to optimise its existing beauty empire — comprising 17 clinics in Queensland, South Australia, Victoria, New South Wales and Western Australia — through an enhanced approach to marketing and operations.

Share issue

The IPO is based on the issue of a maximum of 35 million shares priced at $0.20 each, with one free-attaching Series A option exercisable at $0.25 with a 25-month expiry for every five shares.

Upon exercise, the option will result in the issue of one share and one Series B option, exercisable at $0.40 and expiring four years from the date of the company’s ASX listing.

Funds raised will also be applied towards general working capital, inclusive of potential acquisitions of complementary medical, health, wellness, beauty and personal services businesses in Australia and overseas.

Stormeur expects to make its ASX debut in the coming weeks using the ticker code “STR”.

High-end treatments

Incorporated in 2021, Perth-based Stormeur is the brainchild of chair Vivek Eranki, who has an extensive background in business and medicine and has previously founded several medical and dental clinics across the country.

The group is the parent company of Cosmetique, which has a national network of lookalike clinics offering high-end non-surgical, injectable and laser hair removal treatments.

The clinics have performed a total of 300,000 treatments in the past 12 months, reflecting Cosmetique’s established presence in the burgeoning non-surgical cosmetics industry.

Stormeur aims to have 100 Cosmetique clinics nationwide by the end of 2025.

Safety accreditation

In April, Cosmetique became the first cosmetic injectables clinic in Australia to achieve NSQPCH (National Safety and Quality Primary and Community Healthcare Standards) accreditation, setting new standards in quality and compliance for cosmetic medical services.

“Accreditation serves as a benchmark of quality and performance, offering our patients, customers and the public assurance in the care they receive,” Dr Eranki said at the time.

“Over the years, we have built a brand that Australian men and women know and trust and we are committed to protecting that reputation and advancing our engagement with the Australian market.”

Cosmetics market

Non-invasive cosmetic procedures such as Botox and fillers continue to grow in popularity and accessibility in Australia. The Australian facial injectable market had an estimated value of approximately $4.13 billion in 2023, while the domestic laser hair removal market was valued at $2.74b.

Industry research has shown a tendency for consumers to favour minimally invasive procedures in facial rejuvenation rather than more substantial surgery under general anaesthetic.

This shift — along with the increasing consumer awareness surrounding aesthetic procedures — is expected to see the facial injectable market grow to a value of approximately $13.54b by 2030.