updated on October 12 at 4:25 p.m.
Olaplex, a troubled hair treatment company, announced JuE Wong’s resignation as CEO on Thursday.
In January, Amanda Baldwin, most recently CEO of Supergoop, will succeed the seasoned beauty executive. John Bilbrey, the company’s executive chair of the board, will lead the organization in the meantime.
“We are thrilled to welcome Amanda as CEO of Olaplex. She is a leader in growing prestige beauty brands,” Bilbrey stated. “She is a skilled brand builder who has a solid grasp of consumer insights and analytics. She is the best individual to position Olaplex for long-term success because of her valuable combination of strengths in marketing, product development, and execution.
“It is a privilege to join the company at this pivotal time in its evolution,” she said.
Olaplex, which gained a cult following for its products that strengthen bonds, has encountered difficulties as a result of increased competition and a lawsuit in which a number of plaintiffs claimed they had suffered personal injuries to their hair and scalp, including hair loss and damaged hair, which the company vehemently denies.
To address both of these problems, the corporation increased its marketing expenditures, but this hasn’t had the expected result. Despite the dismissal of the lawsuit, pro stylist demand is still declining as a result of unfavorable news coverage, and competitors K18 and Redken Bonding are now receiving more attention and internet searches than before.
These elements have led Olaplex, which went public through an IPO in 2021, to project net sales for the upcoming fiscal year of 2023 in the $445 million to $465 million range. This is under its original expectation by about $144 million.
Net sales were $109.2 million for the second quarter that ended on June 30, a 48.2% decrease from the same period last year. Factset’s poll of analysts had predicted $130 million. Sales to consumers directly were $38.5 million, down 6.4 percent, and sales to specialized retailers were $29.8 million, down 53.7% from the same time last year.
Wong, who joined Olaplex in 2020 from Moroccanoil, an argan oil company, said: “It has been an honor to lead Olaplex through so many significant moments over the past three plus years.”
Prior to that, she served as CEO of Astral Health, president of Elizabeth Arden, and CEO of StriVectin. “My time working for the firm has been an amazing journey, and I value the chance to support our staff, partners, designers, and professional stylists who have all contributed significantly to our success. I’m eager to watch what Olaplex achieves in the years to come and will continue to support the company wholeheartedly.The news didn’t seem to have much of an impact on the markets; the stock ended the day up 0.6 percent at $1.77. However, since making its debut on the stock market two years ago, when it topped $24 per share and valued the company at more than $15 billion, it has decreased by over 90%.
“Many investors believe a management change is necessary for a brand turnaround,” she said. “Olaplex has long indicated interest in entering the neighboring skin care area, so Baldwin’s background in that field is appealing. We think the company will benefit from her extensive expertise in a variety of marketing-related roles within the beauty industry as it strives to reinvent itself and rebuild brand perception.
What is Olaplex?
Award-winning professional hair care company Olaplex offers a range of hero products to fix broken and damaged hair bonds.
What does Olaplex do to your hair?
Olaplex haircare’s unique active chemistry repairs damage from heat, chemical, and mechanical stress at the minuscule molecule level. The Olaplex hair perfector, bond smoother, and bonding oil are tiny vials of magic that, even after just one wash, genuinely yield highly obvious effects. My Olaplex before and after are also shown here.
I used to receive a lot of salon treatments because I have a lot of hair (which are costly). I have not been able to visit a salon because of the current situation. I’ve finally found the at-home hair care solution I’ve been wanting to try—one that works exactly like a professional treatment! Olaplex provides salon quality at a lower cost.
When my hair feels good, I feel good, so having a hair treatment that works is so important for me.
My hair is incredibly bouncy, shining, and full right after applying Olaplex hair perfector, Olaplex bond smoother, and Olaplex bonding oil. I’m thrilled with the outcomes of using Olaplex! Olaplex smells amazing, too—just like a salon treatment!
What Olaplex Products are in my Olaplex Reviews?
To provide you with unbiased Olaplex reviews, I have tested every Olaplex product and have been using them for years. I’ve been making use of:
- Olaplex 3 Olaplex Hair Perfector Treatment
- Olaplex 6 Olaplex Bond Smoother
- Olaplex 7 Olaplex Bond Oil
- Olaplex 8 Bond Intense Moisture Mask
In my Olaplex reviews, I will:
- describe each of the Olaplex products that I tried
- tell you about my Olaplex results
- let you know how to use Olaplex
- give my opinion on if Olaplex is worth it
- show you my olaplex before and after pictures
Olaplex No. 3 Hair Perfector Review
I’m not shocked that Olaplex Hair Perfector is the drug’s best-selling product worldwide. Olaplex 3 hair treatment is the product I would select to pamper myself to if I could only choose one.
An at-home hair treatment called Olaplex 3 Hair Perfector helps to thicken hair and lessen breakage. This Olaplex treatment is not a conditioner, nor is it meant to be a substitute for one.
Olaplex 3 repairs damage and safeguards the structure of your hair to give it a healthy look and feel again. My hair feels and looks better overall now that I’m using Olaplex Hair Perfector.
When to use Olaplex 3 Hair Perfector
For damaged hair, use Olaplex No. 3 Hair Perfector once or twice a week. Olaplex No. 3 has been plenty for me; I use it once a week.
After just one wash, you should definitely try this Olaplex Treatment for significant results. See my Olaplex 3 results from before and after below.
In the beginning of March 2020, I started using Olaplex 3 Hair Perfector.
Olaplex Hair Perfector lasts so long in a bottle—I’ve used it for so many washes. For a single hair treatment, a modest amount of Olaplex 3 is required. I make an effort to use the Olaplex 3 treatment once a week, ideally between ten and thirty minutes before I take a shower and wash my hair. My Olaplex 3 before and after pictures are available.
I hope your Olaplex 3 therapy goes well. When using Olaplex Hair Perfector, I strongly advise treating yourself to a spa night in the bathroom with a face mask and some music. Below are the specifics of Olaplex 3 and 6, along with their distinctions.
As my Olaplex reviews and before and after photos demonstrate, Olaplex 3 is an incredibly effective at-home hair treatment.
