Procter & Gamble to enter prestige hair space with acquisition of Ouai

Procter & Gamble to enter prestige hair space with acquisition of Ouai

THE WHAT? Procter & Gamble has announced the planned acquisition of Ouai hair care, according to a report published by Beauty Inc. Terms of the deal were not disclosed but analysts have pegged Ouai’s sales at US$50 million for 2021.

THE DETAILS Celebrity hair stylist, Jen Atkin will remain in situ as Founder and Chief Creative Officer, and Colin Walsh will continue as CEO, Beauty Inc reports. The rest of the team is expected to stay on too.

THE WHY? Atkin said that the plan was to expand under P&G ownership. Alex Keith, CEO of P&G Beauty told Beauty Inc, “Jen and Colin will be the people truly leading, defining the brand’s expansion… but I see… a geographical expansion of that core brand and its core offering as a great opportunity.”

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