Hairstory Announces Growth Equity Investment from Summit Partners to Accelerate Adoption of Sustainable, Detergent-Free Haircare

NEW YORK, Oct. 27, 2021 /PRNewswire/ — Hairstory, the unconventional haircare model that helped to create the sustainable, non-detergent cleaning class, right this moment introduced a minority funding from international progress fairness investor Summit Partners. The partnership will allow the corporate to speed up investments in sustainable formulations and packaging, broaden its hairdresser group and assist extra customers perceive that shampoo is the enemy of good hair.Hairstory was based in 2015 by a workforce of haircare trade veterans devoted to serving to individuals rethink the whole lot about hair. Hairstory’s core product, New Wash, cleans hair with none detergent, ending what the corporate sees as a vicious cycle of over-cleansing created by shampoo. The firm’s foundational perception is that cleaning with out shampoo is more healthy for the hair and scalp whereas additionally safer for the atmosphere. The cult model has constructed a loyal following of fanatics as New Wash has helped to change their relationship with their hair.”Switching from shampoo to New Wash helps you get the hair you had been at all times meant to have,” mentioned Hairstory CEO, Eli Halliwell. “Our prospects are constantly telling us that they all of the sudden begin getting unsolicited compliments on their hair once they change. It is tough to imagine eradicating shampoo from the equation could make such a distinction, however it does.”Sustainability and the atmosphere are core to the model’s DNA. Hairstory merchandise are delivered in recyclable, refill pouches, and the corporate’s subscription platform, the Refill Club, permits prospects to eat almost 90% much less plastic and produce 80%+ fewer CO2 emissions throughout cleaning as in contrast with conventional haircare merchandise. Not solely is New Wash biodegradable, however the firm donates 1% of the proceeds from each 8-ounce pouch sale to water-related causes.”We are passionate in regards to the atmosphere and challenged ourselves to suppose in a different way about our environmental footprint from the beginning,” mentioned Halliwell. “One of the most important alternatives we recognized was our skill to cut back plastic consumption. We launched with refill pouches for our subscriptions on the outset and shortly realized individuals had been okay abandoning their plastic bottles, so we switched the whole lot over to refill pouches. We are simply beginning to apply the identical technique to our styling merchandise and our aim is to be the primary magnificence firm to be 100% refillable.”Story continuesHairstory launched a brand new “direct-through-stylist” enterprise mannequin that allows hairdressers to take part in ecommerce in a manner designed to respect their relationship with their purchasers. Once a hairdresser introduces Hairstory to their purchasers, they will earn commissions on all future purchases, regardless of the place the shopper buys. This perpetual affiliate mannequin is designed to allow native entrepreneurs to compete in a world more and more dominated by international giants.”Our most profitable hairdressers can double their month-to-month earnings,” added Halliwell. “This has the potential to be a life-changing alternative for them but additionally an unbelievable alternative for us. People construct trusted relationships with their hairdressers. When we realized how a lot New Wash might change individuals’s hair, we knew we wanted to introduce it by way of hairdressers.”Melanie Whelan, a Managing Director with Summit Partners who has joined the corporate’s board of administrators, added, “We imagine Hairstory’s differentiated and efficient merchandise, buyer loyalty, profitability, and constantly sensible and deliberate progress choices make them a uncommon model. We are delighted to associate with Eli and this passionate workforce to assist the corporate’s subsequent chapter: working to deploy a extra expansive progress technique whereas furthering sustainability-focused product innovation.”Under Eli’s management, Hairstory will stick with it with its mission to rethink the whole lot about hair, allow sustainable hair cleaning and empower hairstylists from its NYC headquarters.About HairstoryLaunched in 2015, Hairstory was based on the common reality that conventional haircare is unhealthy in your hair, unhealthy for the atmosphere and unhealthy for hairdressers. Our mission is to rethink the whole lot about hair, and we do that in two methods: first, by creating more healthy, extra sustainable haircare merchandise that respect the atmosphere and your hair’s ecosystem; and second, by enabling hairdressers to take part in ecommerce and revenue from their affect. Switching from conventional shampoo and conditioner to our core product, New Wash, helps customers get the hair they had been at all times meant to have. We have modified the way in which a whole bunch of hundreds clear their hair on three continents and have been self-sustaining since our first yr of launching. We are effectively on our manner towards ending shampoo as we all know it.About Summit PartnersBased in 1984, Summit Partners is a worldwide different funding agency that’s presently managing greater than $42 billion in capital devoted to progress fairness, fastened earnings and public fairness alternatives. Summit invests throughout progress sectors of the financial system and has invested in additional than 500 firms in shopper, know-how, healthcare, and different progress industries. Summit has partnered with greater than two dozen firms throughout the e-commerce and shopper panorama, together with a.ok.a manufacturers, Brooklinen, Club Champion, Morphe, Philz Coffee, Quay Eyewear,, Sézane, onXmaps, TinyPrints and Physicians Formula. Summit maintains workplaces in North America and Europe and invests in firms world wide. For extra data, please see or comply with on LinkedIn.For extra data, please go to:

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