THE WHAT? Hair care brand Olaplex has reported Q2 net sales growth of 38.6 percent to US$210.9 million.
THE DETAILS By channel, the professional arm grew 32.7 percent to US$105.5 million, Specialty Retail increased 68.5 percent to US$64.2 million and Direct-To-Consumer rose 19.3 percent to US$41.2 million.
For the six months’ year to date 2022, there was a net sales growth of 46.9 percent.
THE WHY? JuE Wong, OLAPLEX’s President and Chief Executive Officer, commented: “We are pleased to announce another excellent quarter for OLAPLEX, as we continue to deliver industry top tier net sales growth and profit margins. Building on the strong momentum from the first half of the year, we are re-affirming our fiscal year 2022 guidance ranges.
“This reflects the successful execution of our strategy as we disrupt the prestige haircare market with science-based, patent-protected products that are designed to fix real hair problems from first use. We continue to see strength in prestige beauty and the prestige hair care category as we believe consumers are prioritizing their own wellbeing – even during uncertain times. We believe that our competitive advantages, leadership in a fast-growing, global category, and significant white space growth opportunities have us well positioned for future success.”