THE WHAT? Tangle Teezer has announced record results of £43.5 million in 2021, up 47 percent YOY, with the U.S. growing to be the company’s largest market with sales increasing 133 percent.
THE DETAILS Earnings before interest, taxes, depreciation and amortization increased by 67 percent to a profit of 9.7 million pounds over the same period. By the end of the period, online retail contributed to c.50% of Group sales.
China and Japan sales increased by 60 percent and 43 percent respectively. European sales grew 34 percent and Rest of World sales grew by percent.
According to a statement, “Sales in the Styling category delivered strong growth, driven by the launch of the ‘Ultimate Styler’ towards the end of the year. The Pet Teezer brand recorded significant growth of 54%, underpinned by global expansion and new product innovations.”
Detangling and Accessories categories also continued their strong momentum.
THE WHY? The strong performance was said to be achieved through strategic investment in international expansion, global personnel, product diversification, marketing, and e-commerce.
James Vowles, CEO of Tangle Teezer, commented: “We began 2021 with a core goal of dramatically growing our footprint and brand awareness in the U.S. and Asia. Due to the exceptional work of our global team, the expansion of existing ranges and retail relationships, and entrance of new categories like Scalp Care, we are surpassing many of our ambitious targets. At home in the U.K., we have also maintained our momentum, grew market share and establishing a number of successful new partnerships.
“Over the next 12 months, we will continue to cement our position as a leading global haircare brand and founder of the detangling category. Our strategy is to focus on what we do best: delivering innovative products at an affordable price, great marketing, and continuing the international rollout of our brand. In the coming months, we will unveil a new ESG strategy to ensure our products, brand, and company are fit for the future and our planet. I would like to extend my sincere congratulations and heartfelt thanks to the entire Tangle Teezer team for their hard work and dedication.”