With millions of views on social media, celebrity endorsements, and even a scandal under its belt, Olaplex is primed for the spotlight.
Let’s brush up on what the hair care brand is up to:
1.1 billion: Views the #olaplex tag has on TikTok. On Instagram, the brand has 2.3 million followers and 13.9 million #olaplex posts.
24%: The increase in US prestige hair care sales in the second quarter, per the NPD Group. The brand said its prestige products sales had 54% growth.
$210.9 million: Olaplex’s Q2 net sales, a 38.6% increase year over year. Professional sales grew 32.7% to $105.5 million, special retail increased 68.5% to $64.2 million, and direct-to-consumer sales grew 19.3% to $41.2 million.
42%: Olaplex’s 2021 sales that are international. The brand launched in China through online marketplace Tmall in 2020 and is now the No. 1 hair care and the No. 12 brand overall on the platform, CEO JuE Wong told Glossy. Livestreaming in China has been a success but hasn’t caught on with US consumers yet.
$4.3 million: The spend to get rid of its No. 3 Hair Perfector stock after a meme about one of its ingredients (which is banned in the EU for safety reasons) went viral. The brand didn’t see a huge impact on sales, but Wong warned of the double-edged sword of social media. “It can elevate you… [but] it can also be disruptive,” she told Vogue Business.
Why we care: Olaplex has proven it’s a competitor in the hair care space. But its ambitions don’t stop there: The brand is eyeing an expansion into the global skincare market.
This was originally featured in in the Retail By the Numbers newsletter. For more retail insights, statistics, and trends, subscribe here.