Toni Mascolo heads one of the world's leading hair care companies, and still cuts hair personally.
Toni Mascolo heads one of the world's leading hair care companies, and still cuts hair personally.

Toni&Guy stays a cut above the rest



Toni Mascolo believes in the power of hair. "We cut Boris Johnson's hair the day before he won his election to become the mayor of London," he says. "I can't say we won the election for him. But I think it helped."

Mascolo is joking, even if hair is a serious business for him. The 69-year-old can still be found on a Saturday in one of his London salons, cutting away and keeping up with latest trends - and this despite being the co-founder and head of an empire.

His Toni&Guy brand turns over £185million (Dh1.1bn) a year and operates about 420 salons in 42 countries. Mascolo plans to open another 400 salons over the next five years, thanks especially to the burgeoning markets of China, India and the Middle East, where the company has a growing profile in Dubai, Kuwait City, Jeddah and Amman.

It is all, he says, down to the personal touch.

"It's important to consult with a client, to give them what they want but also what best suits them - so you don't give a short style to a tall woman with a long neck, lest she look like a giraffe - and to be consistent with the quality of cut," says Mascolo, wielding a pair of scissors with the precision of a bomb disposal expert, his careful anonymity ensuring that his customer doesn't know the boss is shaping her coiffure. "But just as important is that the stylist has to want to do what they do for someone else, has to really want to make the client look better."

Mascolo came to the UK from Naples in the early Sixties at the age of 14, finding the standard of hairdressing so poor that his talents - learnt from his barber father - were sufficient to land him management of a West End salon by the time he was working age.

His company today, he suggests, thrives on the "one for all and all for one" spirit of those other men handy with sharp implements, the Three Musketeers.

"It is, I admit, a broad definition of family," says Mascolo, who likes to spend as much time as possible with his own - his daughter, Sacha, is the company's global creative director, while his son, Christian, heads up its Essensuals spin-off brand. It was with his late brother Guy (real name Gaetano) that Mascolo (real name Giuseppe) launched their business some 50 years ago, later joined by younger brothers Anthony and Bruno.

"It was a crazy industry," he says. "It was considered a job with no future. I'd see people doing respectable jobs that I was sure I could master in three hours or so, and yet could they do a good perm, or colour, or create a style? It just gave me a superiority complex."

Toni&Guy invented slide cutting (cutting into the hair) and pinpoint cutting (using just the tip of the scissors) - "techniques used worldwide now," notes the OBE recipient. The chain was among the first to use the then-exotic Japanese tools that made more complicated cutting technically possible. Indeed, the company has a sideline in academies that train the rest of the industry.

Mascolo assumed that hairstyles were part of fashion and needed to reflect it, with salons situated in cities' fashion quarters. Toni&Guy was the first in the industry to offer hair books (catalogues of styles), to offer videos on hairstyling, and to launch its own magazine and, more recently, a TV channel. And it has a huge products business.

It's a giant of snipping, blowing, dyeing, curling, straightening and sweeping. And yet Mascolo puts it into unbusinesslike terms.

"A successful hairdressing business is less about style as hospitality," he says. "That's a very Italian way of thinking about it. In fact, it's not so much Italian as Neapolitan. We didn't even speak Italian growing up. We spoke the Neapolitan dialect and we had Neapolitan attitudes - chiefly the belief that guests are number one and you do everything you can to make them comfortable."

Toni's 2012 trends

CUT Layered mid-length with natural movement

COLOUR Amplified tones - blondes go blonder (platinum, icy), reds go intensely red and so on...

STYLE Think Kristen Stewart in (her 2012 film) Snow White & the Huntsman

The Settlers

Director: Louis Theroux

Starring: Daniella Weiss, Ari Abramowitz

Rating: 5/5

LILO & STITCH

Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders

Director: Dean Fleischer Camp

Rating: 4.5/5

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
ONCE UPON A TIME IN GAZA

Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi

Directors: Tarzan and Arab Nasser

Rating: 4.5/5

THE BIO: Martin Van Almsick

Hometown: Cologne, Germany

Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)

Favourite dessert: Umm Ali with dark camel milk chocolate flakes

Favourite hobby: Football

Breakfast routine: a tall glass of camel milk

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

Who has been sanctioned?

Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.

Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.

Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.

Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.

The specs: 2019 Haval H6

Price, base: Dh69,900

Engine: 2.0-litre turbocharged four-cylinder

Transmission: Seven-speed automatic

Power: 197hp @ 5,500rpm

Torque: 315Nm @ 2,000rpm

Fuel economy, combined: 7.0L / 100km

UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food