OPI owner Wella files for US IPO as annual revenue reaches $2.9 billion
The Wella Company, owner of OPI, Ghd and Wella Professionals, has submitted plans to go public on the New York Stock Exchange after a period of revenue growth.
The company, which would trade under the ticker WELA, has not shared any further details regarding the number of shares, price range or expected proceeds, although IPO specialist Renaissance Capital estimates that the offering could raise more than $500 million.
Wella returns to profit
Wella reported net revenue of $2.9 billion (£2.14 billion) for the financial year ended 30 June 2026, up from $2.6 billion (£1.92 billion) in 2024, with revenue growing at a compound annual rate of around 5% on a constant-currency basis over the period.
Net income also lifted from a $115 million (£85 million) loss in 2024 to a $62 million (£46 million) gain in 2026, while its adjusted EBITDA increased from $415 million (£306 million) to $522 million (£385 million).
Notably, the group has been investing more heavily in product development, increasing from 5% of revenue in 2024 to 7% in 2026. More than 300 scientists work across six research and development centres, supporting a portfolio of over 1,200 granted and pending patents, according to the company.
American investment firm KKR acquired a majority stake in Wella from Coty in 2020.
Professional hair remains central
Wella says it is the world’s largest pure-play hair and nail company, operating in more than 100 countries and serving over 250,000 salons.
While OPI holds a leading position in premium retail nail, its Wella Professionals brand ranked first globally in salon hair colour for six consecutive years, according to the group. The haircare brand remains central to the group's portfolio, generating more than $1 billion in net revenue during 2026.
In July, Wella Professionals brought a multi-day activation to the 2026 British Grand Prix at Silverstone, combining trackside beauty experiences, stakeholder hospitality and social content as part of its ongoing partnership with F1 ACADEMY, the all-female racing series. The campaign formed part of a broader push by Wella Professionals to raise its profile through events and community building.
Wella’s IPO filing follows wider activity among beauty and retail groups considering public listings.
Earlier this year, beauty chain Boots had also reportedly been considering a possible London listing in 2027. Boots owner Sycamore Partners later changed direction, however, instead entering talks to sell the business, with a proposed £7 billion sale to the Weston family reportedly in jeopardy as of the beginning of August, according to the Financial Times.
Meanwhile, Superdrug owner AS Watson has been weighing a delay until 2027 for its proposed London and Hong Kong flotation as it faced possible regulatory complications in Asia.
The Beauty Tech Group, which develops, manufactures and retails devices using professional-grade aesthetic technologies such as LED light therapy, also listed on the London Stock Exchange in October 2025, with a valuation of around £300 million.
