After years of growth, Olaplex is projecting a slowdown in 2023.
Though performance for the year met expectations, momentum slowed in the fourth quarter. Net sales for that period were only $130.7 million, down 18 percent in the U.S. Each channel — professional, direct-to-consumer and specialty retail — saw declines. That was due, at least in part, to inventory rebalancing, the company said.
Wong’s rebound strategy includes significant investments in sales and marketing, including more coverage in-store. In October, the brand piloted training consultants in-store with 75 doors. “We know that works, so we’re scaling it to 400 doors,” Wong said.
France Dernières Nouvelles, France Actualités
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