Company News, Financial News

Procter & Gamble Enters Prestige Hair Care with Acquisition of Ouai

Founder Jen Atkins will remain as the chief creative director of the lifestyle and hair care brand.

...

By: Tom Branna

Procter & Gamble Enters Prestige Hair Care with Acquisition of Ouai

Procter & Gamble will acquire Ouai, a hair care and lifestyle brand. A purchase price was not disclosed. Company Founder Jen Atkins will remain with the company as chief creative officer. Colin Walsh will continue as chief executive officer. 

“We spent many, many, many hours and, you know, really thought about who was going to be the best partner for Ouai and you know, we’re a brand that is so committed to not only just making really high-quality products, but having a voice and doing good in the world,” Atkin said. “I was so shocked and really pleasantly surprised at all the work that P&G has been doing and their commitment to responsible beauty and sustainability and quality, inclusion, well-being.” 

Since its inception in 2016, Ouai has expanded beyond hair care into candles, body care, fragrances and supplements. Like other brands born in the past five year, Ouai relies on its loyal customers for input on product development. Ouai has more than 4.2 million followers on Instagram and connects with them via surveys.

Ouai reportedly has sales of $50 million this year and sales could top $80 million in 2022, according to sources.

“Jen and Colin will be the people truly leading, defining the brand’s expansion and those type of things, but I do I do personally see, and I know that they do, a geographical expansion of that core brand and its core offering as a great opportunity,” said Alex Keith, CEO of P&G Beauty.

One of those opportunities may be fine fragrance. In recent months, prestige sales have soared, according to data from NPD Group.

Walsh, a celebrity stylist, has Bella Hadid and Hailey Bieber as clients. Other Walsh customers include various members of the Kardashian-Jenner clan and other social media infuencers.




Keep up with the story. Subscribe to the Happi free daily
newsletter

Related Breaking News