Beauty Elite Group, Basim Shami Acquire FUEL Hair, Foray into Salon Professional Space
Beauty Elite Group, led by Owner and CEO Basim Shami, announced today its acquisition of FUEL Hair for an undisclosed amount in a private sale. This acquisition marks the first salon-only brand to join the professional portfolio, including blowpro, sosilk and more.
Under its new ownership, FUEL Hair will maintain its DNA as a professional, prestige brand offering innovative formulations sold exclusively through salon distributors. The new team will continue to offer education to stylists and expand its dedicated team of educators across the country.
“As a company looking to grow our hair and cosmetics acquisitions and licenses, FUEL Hair is a fantastic addition to our portfolio of professional brands. Its proposition of catering to stylists’ education is a unique niche that we’re excited to expand,” said Basim Shami, Owner & CEO, Beauty Elite Group.
In addition to the FUEL Hair purchase, Beauty Elite Group continues to further increase its beauty credentials, closing a new venture deal with the blowpro brand and Kim Nimsgern, CEO of Casual Panache Inc., the creator of Click-n-Curl. The deal includes the launch of a co-branded, salon professional line set for distribution in early 2017 and features products and tools designed for professional stylists.
“Beauty Elite Group is the perfect partner to take my brand to the next level in the salon industry,” said Kim Nimsgern, CEO of Casual Panache, Inc. “I’m confident Basim’s vast experience will create an impactful presence for Click n Curl among stylists and salon owners.”
About:Beauty Elite Group was founded in 1995 by Basim Shami, former CEO of Farouk Systems, and strikes to successfully expand and distribute unique, niche beauty brands ranging from salon quality hair care to top of the line pet grooming products. Current brands include blowpro, Petsilk, sosilk, FUEL Hair and Click-n-Curl.
About: FUEL was founded in 2014 by a small group of entrepreneurial beauty industry specialists that understand the day-to-day challenges true stylists face behind the chair and share the vision to recognize and support them. True stylists are passionate, creative and inspiring. They touch more than just hair, they change lives by making their clients look and feel their best. They listen with a comforting ear, take pride in their relationships and inspire others to evolve and grow.The FUEL team is dedicated to providing true stylists with world-class education that generates tangible solutions behind the chair. The styling and cutting curriculums are supported by high quality, effective and reliable performance products that complement the education.Fuel encompasses a full line of products including: liquids, powders and aerosols as well as tools and cutting shears. These are all proprietary items with unique delivery systems develop and geared toward the true stylist.