Olaplex, the science-based haircare brand, has come a long way since it was founded in a garage in California in 2014. The company’s ground-breaking shampoos, conditioners and treatments are now sold in more than 100 countries, including Australia, and have spawned many imitators.
Advent International bought a 79.6 per cent stake in Olaplex in 2019. Last October, the private equity major launched an IPO in the US, raising US$1.5 billion and achieving a market valuation of US$16 billion.
The bullish optimism has paid off. Olaplex has reported Q2 sales earnings of US$210.9 million – up 38.6 per cent on the same period last year. Revenues jumped 41.3 per cent in the US and 35.2 per cent internationally.
The result was split between three distribution channels – professional sales (US$105.5 million), specialist retailers such as Sephora (US$64.2 million) and direct-to-consumer (US$41.2 million).
Net sales for the first half of the year climbed to US$397.1 million, by contrast to US$270.2 million for the same period in 2021.
We are pleased to announce another excellent quarter for Olaplex, as we continue to deliver industry top tier net sales growth and profit margins, said JuE Wong, president and CEO.
“Building on the strong momentum from the first half of the year, we are re-affirming our fiscal 2022 guidance ranges. We continue to see strength in prestige beauty and the prestige hair care category as we believe consumers are prioritising their well-being.”
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