Olaplex hair repair-focused merchandise. Instagram/@olaplex.
The Santa Barbara, California-based magnificence model identified for its premium hair restore merchandise plans to record its shares on Nasdaq beneath the image OLPX.
Amid the challenges of the coronavirus pandemic the corporate reported web gross sales of $282.3 million in 2020, a 90 p.c year-on-year enhance, and EBITDA rising 98% over the interval to achieve $199.3 million, the regulatory submitting reveals. For the primary 6 months of 2021, web gross sales have totalled $270.2 million.
Dean and Darcy Christal based Olaplex in 2014, promoting it to non-public fairness agency Advent International in November 2019 for an undisclosed quantity. Mousse Partners can be named within the IPO submitting as a shareholder with a stake over 5 p.c.
The firm is contemplating plans to broaden into adjoining classes comparable to skincare, together with new haircare merchandise, based on the submitting.
Is Scalp Care the New Skin Care?
As curiosity in self-care and wellness surges, manufacturers and customers are making use of ingredient formulations and rituals related to skincare to hair care regimes.