Sales: $135 million (estimated). Corp. sales: $210 million (estimated).
Key Personnel: Farouk Shami, founder.
Major Products: Chi and Biosilk professional products.
New Products: new Chi styling SKUs
Comments: Founder Farouk Shami’s hairstyling career nearly ended before it began after he learned that he was allergic to the ammonia in hair dyes. But that spurred him to invent the world’s first ammonia-free hair dye, which launched his business career. He founded Farouk Systems in 1986. He opened his first salon, Le Salon Farouk, in Lafayette, LA and moved to Texas in 1978 to get in on real estate market. Luckily, when real estate collapsed, his salon business took off. The rest, as they say, is history.
Farouk’s Chi—which has been a sponsor of the Miss Universe pageant since 2005, providing product and styling needs to contestants—created the The Miss Universe Style Illuminate by Chi. The collection consists of six products.