Olaplex has seen a meteoric rise within the haircare business.
Net gross sales of Olaplex bond-building haircare merchandise elevated from $148.2 million in 2019 to $282.3 million in 2020, representing a progress charge of 90%. During this time interval, Olaplex rose from the quantity three unbiased haircare model to primary. All this progress was achieved with Singapore-born CEO JuE Wong on the helm.
Olaplex single-handedly created the “bond constructing haircare” class. The firm’s shampoos, conditioners, and deep therapies are designed to strengthen and restore hair from the within out. Recently, they’ve launched a No. 4P Blonde Enhancer firming shampoo to neutralize undesirable yellow tones for brighter, extra manageable blonde, lightened, and gray hair.
Under Wong’s management, the haircare model has skilled a meteoric rise on social media, particularly TikTook. With its verified account and the #olaplex hashtag, the model has seen 380 million views, up from 24 million in April 2020. According to a current Cosmetify 2021 Hair Report, Olaplex was ranked the most popular hair model on social with 11.3 million hashtag mentions.
Olaplex merchandise are backed by a breakthrough scientifically-proven expertise that holds over 100 patents worldwide. It really repairs damaged bonds within the hair, permitting folks to get well from 5 sorts of harm together with chemical companies, warmth styling, mechanical harm, environmental harm, and way of life or physiological modifications. Since its founding, the corporate additionally has been non-toxic, cruelty-free, and vegan, freed from over 50 questionable substances together with sulfates, parabens, phthalates, and phosphates. Products ship with out pointless cardboard packing containers, eliminating waste from secondary packaging and serving to to make the corporate carbon impartial.
JuE Wong is the President and CEO of Olaplex.
After rising up in Singapore and finishing a level in Political Science with Honors in Australia, Wong went into buying and selling. She managed giant portfolio funds at Cargill, the world’s largest personal firm. Then she relocated to Arizona and continued working for PepsiCo. “Pivoting to client items at The Dial Corp. (right this moment Henkel), I had no related expertise or talent set, and I took an enormous pay lower to turn out to be a model supervisor. But I realized a lot,” she says. Later, she moved into cosmetics with Dr. Murad and Elizabeth Arden.
“I like that right this moment, magnificence is now not about fluff, snake oils and potions,” says Wong. “There is a whole lot of science and expertise behind it.” She additionally began to grasp presently that her true drive was to have impression – it didn’t matter which business she was working in, so long as she may do her very best work. “I inform my children, ‘Apply your self and be the perfect in no matter you do.’ My life objective is to be the perfect I could be.”
Wong’s subsequent profession transfer was doing turnarounds for personal fairness manufacturers working for Perricone, StriVectin, and Astral Health and Beauty. “Time spent on turnarounds could be comparatively quick,” she says. “You wish to develop the enterprise with out mortgaging the longer term. I actually loved that.”
Sinapore-born JuE Wong has grown Olaplex to the primary unbiased haircare model.
Cosmetic Executive Women
In January 2020, Wong began as CEO of Olaplex following her CEO place at Moroccanoil. And then, after all, the Covid-19 pandemic hit simply a few months later. “Olaplex was completely work at home earlier than Covid, so we have been already in our aspect. But usually your children are in school, your accomplice is offsite on the workplace. Now everyone seems to be residence. If you reside in a typical New York City house, how do you do a Zoom name?”
Wong responded to the Covid disaster by ensuring that every one Olaplex staff members had childcare, got entry to reduction funds, and have been properly taken care of. “Taking care of your staff is egocentric as a result of it permits them to do their greatest work. We additionally helped hairdressers who’re a part of our Affiliate program, paying nice dividends and incomes wonderful loyalty.”
To aspiring leaders and entrepreneurs, Wong affords this recommendation. “People say, ‘Do what you’re keen on.’ I say do what scares you. If you try this, you’ll do it higher, study extra, and in the long run, you’ll pay it ahead.”