Toni and Guy Mascolo opened their first hairdressing salon, Toni & Guy, in Clapham, London, in 1963. Pressure from employee hairdressers who wanted to run their own salons later led to the creation of a franchise network and by 1999 there were 138 Toni & Guy high street salons in the UK. The company has 40 salons in the US, and a further 60 salons throughout the rest of the world. Mascolo Brothers, trading as Toni & Guy, has achieved 39% pa profit growth, from £2.3m in 1995 to £6.2m in 1998. This was largely as a result of sales growth of 36% pa over the same period to £59m. Profitability has also been enhanced by expansion of the company’s high margin Tigi brand of hair care products. Toni Mascolo won a number of British Hairdressing Award in the 1990s, helping to keep the brand at the forefront of world hair styling fashion. The company says that future profit margins are threatened by recent EU minimum wage legislation, which affects younger stylists in particular.
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