Specialty retail was a highlight for the brand, jumping 22.4% to $36.4 million; the sector represents roughly a bit more than 1/3 of the total business, which is nearly evenly split with the professional and direct-to-consumer channels.Olaplex/Facebook
Olaplex, which has launched several of the most popular hair products of the last year, and which has shaken up its management team in recent months, has reported a Q2 2024 net sales decrease of 4.8%, totaling $103.9 million. Net sales increased 7.3% in the United States and decreased 15.1% internationally, per the brand. Given the results, the brand is reiterating its previous full-year net sales guidance of $435-463 million.
Specialty retail was a highlight for the brand, jumping 22.4% to $36.4 million; the sector represents roughly a bit more than 1/3 of the total business, which is nearly evenly split with the professional and direct-to-consumer channels.
In Q2 2024, Olaplex’s DTC sales fell 11.5%, totaling $34.1 million, while its professional channel sales dropped 18.4% to $33.4 million.
Of the results, Amanda Baldwin, Olaplex’s CEO said, “Our second quarter performance was in line with our expectations and demonstrated continued stabilization in the business. I am encouraged by the progress we are making on our transformation journey as we delivered on our goals for the first half of the year and are now shifting our focus to the back half of 2024 and beyond. I am confident in the direction we are taking the brand and remain incredibly excited about the long-term growth potential for Olaplex.”