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| == History == | == History == | ||
| Olaplex was founded in 2014 by Dean Christal. In 2019, Olaplex was acquired by ]. | |||
| ⚫ | |||
| On 30 September 2021, Olaplex was listed on the Nasdaq, raising 1.5 billion dollars after selling 73.7 million shares.<ref>{{Cite web |last=Edelson |first=Sharon |title=Beauty Brand Olaplex Valued At $15 Billion After IPO, Will Explore New Hair Products |url=https://www.forbes.com/sites/sharonedelson/2021/09/30/olaplex-ipo-prices-shares-at-21-stock-opens-at-25-in-first-day-of-trading/ |access-date=2024-08-24 |website=Forbes |language=en}}</ref> | |||
| ⚫ | JuE Wong was the CEO from 2020 until 2023.<ref>{{Cite web |last=Luce |first=Ivan De |date=2021-09-01 |title=How Olaplex grew from a cult haircare brand into a beauty staple seeking a $1.5 billion IPO |url=https://www.businessofbusiness.com/articles/olaplex-ipo-dean-christal-sephora/ |access-date=2023-10-03 |website=www.businessofbusiness.com |language=en}}</ref><ref name=":0">{{Cite web |date=2023-10-12 |title=Olaplex CEO JuE Wong to Step Down |url=https://www.businessoffashion.com/news/beauty/olaplex-ceo-jue-wong-to-step-down/ |access-date=2023-10-20 |website=The Business of Fashion |language=en}}</ref> In October 2023, Olaplex announced that Amanda Baldwin, former CEO of Supergoop, would be taking over in 2024 as CEO of Olaplex.<ref name=":0" /> ], executive chair on the board, will serve as interim CEO until 2024. <ref name=":0" /><ref>{{Cite web |last=Dawson |first=Gloria |title=Olaplex's CEO, who once said hair loss complaints are 'sadly, a fact of life in our industry,' steps down |url=https://www.businessinsider.com/olaplex-ceo-steps-down-after-customer-lawsuit-share-decline-2023-10 |access-date=2023-10-20 |website=Business Insider |language=en-US}}</ref> | ||
| == Ingredients == | == Ingredients == | ||
Revision as of 19:35, 24 August 2024
| Company type | Public |
|---|---|
| Traded as |
|
| Industry | Professional hair care |
| Founded | 2014; 11 years ago (2014) |
| Founder | Dean Christal |
| Headquarters | Santa Barbara, California, U.S. |
| Key people |
|
| Owner | Advent International |
| Website | olaplex |
Olaplex is a hair care brand founded in 2014 by Dean Christal. The product was developed by two chemists, Eric Presley and Craig Hawker, and is advertised to rebuild broken bonds in hair caused by chemical, thermal, and mechanical damage.
History
Olaplex was founded in 2014 by Dean Christal. In 2019, Olaplex was acquired by Advent International.
On 30 September 2021, Olaplex was listed on the Nasdaq, raising 1.5 billion dollars after selling 73.7 million shares.
JuE Wong was the CEO from 2020 until 2023. In October 2023, Olaplex announced that Amanda Baldwin, former CEO of Supergoop, would be taking over in 2024 as CEO of Olaplex. John Bilbrey, executive chair on the board, will serve as interim CEO until 2024.
Ingredients
All Olaplex products contain a patented ingredient called bis-aminopropyl diglycol dimaleate, with the aim of rebuilding broken hair disulfide bonds.
Lawsuit
In February 2023, 28 women filed a lawsuit against Olaplex claiming that the products led to damaged hair and hair loss. Part of the lawsuit stated that even after Olaplex reformulated their product to no longer include lilial (a chemical that is potentially toxic for reproduction), they kept old product on the shelves and continued to sell it. Olaplex published results from third-party testing to show the products are safe. As of May 2023, no trial date had been set. By June 2023, a proposed class action lawsuit had over 100 plaintiffs. U.S. District Judge R. Gary Klausner ruled that the claims were too different for it to be a class action lawsuit and the first-named plaintiff dismissed her case without prejudice.
References
- "Advent-Owned Haircare Firm Olaplex Valued at $13.6 Billion in Upsized IPO". The Business of Fashion. 2021-09-30. Retrieved 2023-09-15.
- "What is Olaplex and How Does It Keep Kim K's Hair Looking So Damn Good?". 18 April 2018.
- "Celebrity-adored Olaplex has just added an epic new product collection! Here's a guide to the insanely popular hair heroes". 9 April 2021.
- Edelson, Sharon. "Beauty Brand Olaplex Valued At $15 Billion After IPO, Will Explore New Hair Products". Forbes. Retrieved 2024-08-24.
- Luce, Ivan De (2021-09-01). "How Olaplex grew from a cult haircare brand into a beauty staple seeking a $1.5 billion IPO". www.businessofbusiness.com. Retrieved 2023-10-03.
- ^ "Olaplex CEO JuE Wong to Step Down". The Business of Fashion. 2023-10-12. Retrieved 2023-10-20.
- Dawson, Gloria. "Olaplex's CEO, who once said hair loss complaints are 'sadly, a fact of life in our industry,' steps down". Business Insider. Retrieved 2023-10-20.
- "Here's the Tea on the Olaplex Hair Treatment". 26 April 2018.
- Archie, Ayana (16 February 2023). "Nearly 30 women are suing Olaplex, alleging products caused hair loss". npr. Retrieved 27 September 2023.
- ^ "Olaplex Lawsuit Guide 2023 – Forbes Advisor". www.forbes.com. Retrieved 2023-11-13.
- "Olaplex products cause hair loss, lawsuit claims". BBC News. 2023-02-16. Retrieved 2023-10-03.
- Zuritsky, Kate (2023-05-25). "Does Olaplex Really Cause Hair Loss? The Truth Behind the Lawsuit". Green Matters. Retrieved 2023-10-03.
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