Global net sales of Olaplex 2020-2023

In the fiscal year 2023, Olaplex Inc. generated global net sales amounting to over 458 million U.S. dollars, a decrease in comparison with previous years. 

Company key data

Olaplex is engaged in the production and distribution of hair care products. Founded in 2014 in California, the company distributes its products to hair salons, retailers, and consumers. Among its most popular products are shampoos, conditioners, and hair oil. In 2023, the most profitable distribution channel for the brand was its professional channel, with sales adding up to about  143 million U.S. dollars. This was followed by Direct to Consumer sales, with 143 million U.S. dollars in sales. That same year, the company’s net income decreased to  61 million U.S. dollars, down from its peak of about 244 million U.S. dollars in the previous year.

Consumers and controversies

Olaplex quickly became popular among consumers all over the world, especially thanks to social media: in 2022, it featured in a ranking of the most well-known hair care brands among consumers in the United States, having been recognized by 33 percent of consumers participating in the survey. Similarly, brand awareness for Olaplex in the United Kingdom was measured at nearly 40 percent that year. 
However, this lucky streak might not continue, as Olaplex has recently been in the news following controversies, including a lawsuit and the banning of a particular ingredient. In addition to that, after the company’s net sales peaked in the second quarter of 2022, at nearly 211 million U.S. dollars, they soon started following a downward trend. As of the third quarter of 2023, this figure decreased to approximately 124 million U.S. dollars.