07.01.21
Santa Barbara, CA
Olaplex.com
Sales: $309 million (estimated)
Key personnel
JuE Wong, president and chief executive officer; Tiffany Walden, chief operating officer and chief legal officer
Major products
Hair care products sold under the Olaplex brand name including The Bond Treatment System, No. 3 Hair Protector and Intense Repair Kit
New products
No. 8 Bond Intense Moisture Mask
Comments: Sales are soaring for Olaplex. According to WWD, sales more than doubled last year. Olaplex was founded in 2014 by beauty industry veterans Dean and Darcy Christal, who commercialized a patented technology that protects and repairs hair from damage. Word of “The Power of Olaplex” spread among hair stylists, and the brand quickly became a global sensation, paving the way for a completely new category of hair care called “bond-building.” In November 2019, Advent International agreed to acquire Olaplex. The acquisition was completed on January 8, 2020. The company immediately named JuE Wong as chief executive officer.
“We are honored to announce JuE as CEO of Olaplex,” said Tricia Glynn, a managing director at Advent. “She is a dynamic and experienced leader with a deep knowledge of the lifestyle and beauty industry. Her successful track record of delivering consistent results for brands seeking to grow market share, expand globally and build enduring consumer relationships makes her the right person to drive Olaplex’s ambitious growth plan.”
Wong is a long-time industry executive who most recently served as CEO of Moroccanoil, the global leader in argan oil-infused beauty. She has served in numerous leadership roles throughout her career, developing a strong track record for both propelling emerging beauty and lifestyle businesses and globalizing established brands. Prior to joining Moroccanoil, Wong served as president of Elizabeth Arden, CEO of Strivectin and CEO of Astral Health & Beauty.
“Olaplex has emerged as one of the largest independent hair care brands in the world, and I am thrilled to be joining at such an exciting time for the business,” said Wong. “The brand has successfully differentiated itself and is widely recognized among haircare professionals for creating the bond-building category. I look forward to working with the entire Olaplex team to deepen the brand’s strong customer recognition globally and further develop its ability to speak and sell to consumers directly.”
In an interview earlier this year with WWD, Wong noted that Olaplex thrived during the pandemic because its business is now 50% professional, 25% retail and 25% direct to consumer.
Olaplex is winning in salons; but courts are another matter. The US Court of Appeals for the Federal Circuit vacated a $66 million judgement that Olaplex had won against L’Oréal for trade secret misappropriation, breach of a non-disclosure agreement and patent infringement.
Olaplex.com
Sales: $309 million (estimated)
Key personnel
JuE Wong, president and chief executive officer; Tiffany Walden, chief operating officer and chief legal officer
Major products
Hair care products sold under the Olaplex brand name including The Bond Treatment System, No. 3 Hair Protector and Intense Repair Kit
New products
No. 8 Bond Intense Moisture Mask
Comments: Sales are soaring for Olaplex. According to WWD, sales more than doubled last year. Olaplex was founded in 2014 by beauty industry veterans Dean and Darcy Christal, who commercialized a patented technology that protects and repairs hair from damage. Word of “The Power of Olaplex” spread among hair stylists, and the brand quickly became a global sensation, paving the way for a completely new category of hair care called “bond-building.” In November 2019, Advent International agreed to acquire Olaplex. The acquisition was completed on January 8, 2020. The company immediately named JuE Wong as chief executive officer.
“We are honored to announce JuE as CEO of Olaplex,” said Tricia Glynn, a managing director at Advent. “She is a dynamic and experienced leader with a deep knowledge of the lifestyle and beauty industry. Her successful track record of delivering consistent results for brands seeking to grow market share, expand globally and build enduring consumer relationships makes her the right person to drive Olaplex’s ambitious growth plan.”
Wong is a long-time industry executive who most recently served as CEO of Moroccanoil, the global leader in argan oil-infused beauty. She has served in numerous leadership roles throughout her career, developing a strong track record for both propelling emerging beauty and lifestyle businesses and globalizing established brands. Prior to joining Moroccanoil, Wong served as president of Elizabeth Arden, CEO of Strivectin and CEO of Astral Health & Beauty.
“Olaplex has emerged as one of the largest independent hair care brands in the world, and I am thrilled to be joining at such an exciting time for the business,” said Wong. “The brand has successfully differentiated itself and is widely recognized among haircare professionals for creating the bond-building category. I look forward to working with the entire Olaplex team to deepen the brand’s strong customer recognition globally and further develop its ability to speak and sell to consumers directly.”
In an interview earlier this year with WWD, Wong noted that Olaplex thrived during the pandemic because its business is now 50% professional, 25% retail and 25% direct to consumer.
Olaplex is winning in salons; but courts are another matter. The US Court of Appeals for the Federal Circuit vacated a $66 million judgement that Olaplex had won against L’Oréal for trade secret misappropriation, breach of a non-disclosure agreement and patent infringement.