I would not say any ASX growth share is guaranteed to double in value. Far from it. Valuations can change, earnings can disappoint, and even strong companies go through rough patches.
But I think the three ASX growth shares in this article have the potential to grow at a rate that could support a doubling in under seven years.
That would need a return of just over 10% per year. Here's why I think they could achieve this.
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Lovisa Holdings Ltd (ASX: LOV)
Lovisa is one of the more interesting global retail growth stories on the ASX.
The jewellery retailer has already expanded into more than 50 markets, but I do not think the store rollout opportunity is finished. In fact, that is the main reason I think the business could still have a lot of growth ahead.
Lovisa's model is attractive because it is simple, repeatable, and relatively capital-light compared with many larger-format retailers. It sells affordable fashion jewellery, has small stores, and can take the format into many different shopping centres and markets around the world.
It opened 85 new stores in the first half of FY26, with strong growth across Europe and the Americas.
Importantly, it achieved this with an attractive margin profile. Lovisa reported an underlying gross margin of 82.9% in the half. That gives the business a lot of room to invest in growth while still producing strong profitability.
There are risks. Retail execution matters, consumer spending can weaken, and international expansion is never easy. But if Lovisa can keep opening profitable stores and improving performance in existing markets, I think the business could be materially larger by the early 2030s.
Breville Group Ltd (ASX: BRG)
Breville is another ASX growth share I think has the right ingredients to outperform.
This is not just an appliance business. I think of Breville as a premium global consumer brand built around product quality, design, and the at-home coffee trend.
Coffee remains a major part of the growth story. Many consumers are still willing to spend on better machines, grinders, and accessories if it improves their daily routine. Breville has built a strong position in that market, particularly with its espresso machine range.
The company's record first-half performance was driven by double-digit revenue growth led by coffee. While tariffs have created pressure, Breville has been working through production diversification, pricing, and distribution mix to reduce the impact.
This is not a risk-free story either. Currency, tariffs, freight, consumer weakness, and competition can all affect earnings. But I think Breville has the kind of brand strength and global runway that could support strong long-term compounding if management keeps executing well.
Netwealth Group Ltd (ASX: NWL)
Netwealth is the third ASX growth share I think could double in under seven years.
The wealth platform business benefits from a powerful long-term trend. Financial advice is becoming more complex, and advisers need efficient platforms to manage client portfolios, reporting, administration, managed accounts, and investment options.
Netwealth has built a strong position as an independent platform, and its recent quarterly update showed the momentum is still there.
Total funds under administration reached $125.8 billion at the end of March, up 20.9% on the prior corresponding period. The company also reported $4 billion of net flows for the quarter, which helped offset weaker market movements.
That tells me the platform is still winning support from advisers and clients, even during volatile markets.
The key risk for me is valuation. High-quality platform businesses often trade on demanding multiples, so earnings need to keep growing. Competition from other platforms also remains a factor.
But if Netwealth can keep winning flows, adding accounts, and increasing platform scale, I think the long-term opportunity remains attractive.
Foolish Takeaway
I would not buy these ASX growth shares expecting a smooth ride. Lovisa depends on retail execution, Breville is exposed to global consumer demand, and Netwealth needs to keep attracting adviser flows in a competitive market.
But I think all three have genuine growth runways.
A doubling in under seven years is a high bar, but it does not require miracles. It requires strong businesses to compound faster than 10% per annum. In my view, these three ASX shares have enough quality, market opportunity, and growth potential to make that outcome possible.
