Olaplex sales decline as recent rebrand adds confidence for year ahead

Olaplex has reported a 7.8% decline in sales to $422.67 million (£329 million) for 2024, as it looks to a "meaningful year ahead" following its recent rebrand. 

For 2024, Olaplex shared the following results: 

• Specialty Retail up 5.4% to $142.3 million (£110 million).
• Professional down 19.3% to $145.3 million (£113 million).
• DTC down 5.7% to $135 million (£112 million).
• Net income down 68.3% to $19.5 million (£16.2 million)

The US-based brand reported a 9.8% decrease in sales to $100.7 million (£78.5 million) for the fourth quarter.

Sales increased 0.3% in the US but dropped 17.4% internationally in the three months ending 31 December.

For Q4, Olaplex shared the following results: 

• Specialty Retail up 5.7% to $28.8 million (£24 million).
• Professional down 27.1% to $31 million (£25 million).
• DTC down 2.5% to $40.9 million (£34 million).
• Net income down 162.4% to -$8,000 (-£6,200).

Looking ahead, the company's guidance for 2025 reflects the expectation that sales for the first quarter will trend below the expected sales performance for the full year. It anticipates sales between $410-431 million (£319-335 million) for 2025.

Amanda Baldwin, CEO at Olaplex, said: "I am pleased with our end to the year with our fourth quarter results ahead of the expectations we shared in November.

"During the full year, we laid a critical foundation for our business and brand transformation and I remain confident and optimistic about the strategies put in place as we step into a meaningful year ahead for the business."

Last week, Olaplex entered a new chapter, launching a refreshed brand identity to reflect its commitment to empowering both customers and stylists worldwide.

As part of this, the haircare brand has introduced a refreshed identity, bringing its core values to life through "vibrant new visuals, a dynamic digital presence, and a continued belief in the bond between science and style".

It also launched a new scalp treatment, designed to establish the foundation for long-term scalp and hair health. Combined with its bestselling No.3 Hair Perfector, the innovation is "emblematic" of the brand's new vision and promises to deliver lasting hair health from root to tip.