The matriarch of Australian family business Sue Ismiel & Daughters has this week revealed she is considering listing a majority stake in its hair removal subsidiary on the country’s stock exchange.
Sue Ismiel started Nad’s in her Sydney home in 1991 to create a more pain-free way to remove unwanted body hair. The business took off when she started marketing her wax-free gel on television infomercials.
Today the hair removal products are sold around the world, including in Walmart, Target, Walgreens and CVS Pharmacy in the US, and Boots in the UK.
The company has restructured in preparation for the listing, and a formal succession plan that would see the second generation take the helm at the company has been created.
Ismiel has told Australian media she hopes to keep a 30% stake in the business. She has annointed her eldest daughter Nadine Ismiel-Nash, after whom the business is named, as her successor, in a transition she expects to take place in a couple of years’ time.
Nadine is a biomedical scientist who currently works in product development at the company. Her sisters, Naomi and Natalie, also work in the family business.
Ismiel was born in Syria, but relocated to Australia as a child with her family in 1974.
She has been at the helm of Nad’s since she founded it, except for a brief period from 2005 to 2006, when an external chief executive was appointed to succeed her. When revenues slumped she returned to the helm of the family business.
Holding company Sue Ismiel & Daughter also owns acne skin treatment business PuraSkin, and anti-head lice shampoo brand NitWit.