Wella Company leads the way in $100 billion hair and nail sector
Wella Company, an innovative global leader in the $100 billion hair and nail segment of the beauty industry, celebrated its third year as an independent company with impressive growth.
In the fiscal year 2023, Wella Company achieved high single-digit growth, solidifying its position as one of the fastest-growing companies in the sector. The company’s portfolio includes well-known brands such as Wella Professionals, O·P·I, ghd, Briogeo, Nioxin, Sebastian Professional, and Clairol.
Over the years, Wella Company has reported year-over-year growth in both developed and emerging markets. They have established themselves as the number one salon colour brand globally with their leading professional hair colour brand, Koleston Perfect, selling 1.5 tubes per second in FY23.
Annie Young-Scrivner, the Chief Executive Officer of Wella Company, expressed optimism for the future and expects the company to continue its growth trajectory in the upcoming fiscal year.
“Looking at 2023, we are beginning to realise the benefits of the successful brand transformations across our portfolio and breakthrough innovations. We are also seeing our business mature and expand across channels and markets. All of our brands and geographies are growing ahead of the category, which is an indicator that we have tremendous upside yet to unlock.” She added, “In Fiscal Year 23, we grew our top line and profitability and expanded our market share, and we expect Fiscal Year 2024 will continue that growth trajectory.”
This year alone, Wella Company has achieved several notable successes with breakthrough innovations and modernised brand experiences. Their brands, such as Wella Professionals and O·P·I, have secured top positions in their respective categories. They have introduced revolutionary hair products that address hair damage, refreshed packaging to drive revenue growth, and launched new offerings in the scalp care category. Additionally, the company successfully revitalised its Clairol brand and expanded its presence in the nail colour and treatments category with O·P·I.
Wella Professionals Ultimate Repair collection marked the brand’s entry into the prestige haircare segment and has been one of the company’s most successful launches in haircare to date. Meanwhile, ghd, created a new category in wet-to-dry with the introduction of ghd Duet Style. Since its launch in February, ghd Duet Style is the brand’s third bestselling product behind Platinum+ and Gold stylers.