Olaplex sales rise 38.6% in Q2

Olaplex has released its financial results for the second quarter and six months ending 30 June 2022, revealing an 38.6% increase in Q2 net sales to $210.9 million.

For the second quarter, Olaplex shared the following results:

• International net sales increased by 35.3%.
• Professional channel net sales up 32.7% to $105.5 million.
• Specialty Retail net sales up 68.5% to $64.2 million.
• DTC net sales up 19.3% to $41.2 million.
• Gross profit up 29.8% to $156.430 million.
• Adjusted EBITDA up 26.2% to $133.079 million.

For the six months, Olaplex shared the following results:

• Net sales up 46.9% to $397.009 million.
• Gross profit up 39% to $297.635 million.
• Adjusted EBITDA up 35.7% to $259.457 million.

As of 30 June 2022, the group had $198 million of cash and cash equivalents, compared to $186.4 million as of 31 December 2021.

JuE Wong, President and CEO at Olaplex, said: “We are pleased to announce another excellent quarter for Olaplex, as we continue to deliver industry top tier net sales growth and profit margins.

"Building on the strong momentum from the first half of the year, we are re-affirming our fiscal year 2022 guidance ranges. This reflects the successful execution of our strategy as we disrupt the prestige haircare market with science-based, patent-protected products that are designed to fix real hair problems from first use.

"We continue to see strength in prestige beauty and the prestige hair care category as we believe consumers are prioritising their own wellbeing – even during uncertain times. We believe that our competitive advantages, leadership in a fast-growing, global category, and significant white space growth opportunities have us well positioned for future success.”

Read TheIndustry.beauty's interview with the President and CEO of Olaplex, JuE Wong.