Known primarily for its in-salon bond-building hair treatment Olaplex No.1 as well as a range of at-home haircare products, Olaplex revolutionised the hair care game by providing unprecedented strengthening treatments for colour-treated and damaged hair.
It may have launched less than 10 years ago, but Olaplex has become a bonafide beauty phenomenon with a loyal international following of professionals and consumers alike, who all rely on the hair-transforming powers and instant results of the brand’s patented formulas.
Now, the brand has revealed plans to expand into other sectors of the beauty and wellness industry, namely skincare.
Filing for an initial public offering (IPO) on the US stock market, the brand stated, “We also are well positioned to expand into the $633bn beauty and personal care category by leveraging our differentiated technology platform, and we believe consumers would be interested in Olaplex product offerings in other beauty categories, such as skincare, a $140 billion global category.”
While the brand didn’t divulge too much detail on their upcoming plans (which is hardly surprising seeing as their current haircare range is protected by over 100 patents), they did allude to the expansion being built around the clean beauty movement.
“We intend to utilise our innovation expertise to enter adjacent categories and create clean, healthy solutions for the broader personal care needs of our consumers.”
With their existing range focusing on hair health and repairing damage, we wonder whether the skincare venture will offer similar benefits, focusing on a strong skin barrier as well as balancing out environmental damage from things like pollution and UV rays. But with an engaged following of over two million on Instagram, we doubt Olaplex will struggle to drum up demand for the new products, whatever they may be. Hey, we’re already sold.