The rise and fall of Olaplex

Alex BitterJan 15, 2024, 16:11 IST

The phase-out of lilial affected Olaplex's No. 3 hair mask.Facebook

Haircare brand Olaplex went from a startup to a multi-billion dollar company in seven years.
But the brand has faced complaints and lawsuits from customers who say its products harmed them.

Anyone who has tried to repair dry, broken, or heavily treated hair has probably encountered Olaplex.

The haircare brand was the first of the bond-builder treatments that claimed to reinforce damaged hair. Olaplex gained popularity with stylists and on social media after its founding in 2014. The company grew quickly, attracting attention from L'Oréal and eventually going public in 2021.

But lately, the brand has responded to claims that its products hurt some customers' hair. Its stock is also down nearly 90% from its IPO price, and it's in the midst of a CEO change. Analysts say the brand is in need of a turnaround, and fast.

Here's the rise and fall of Olaplex:

Dean and Darcy Christal founded Olaplex in 2014.

An Olaplex shampoo bottle.Insider

Olaplex becomes a sensation on Instagram and other social media.

Olaplex relied on "word-of-mouth advertising" on Instagram in its early days, co-founder Dean Christal said in 2015.SOPA Images/Getty Images

Olaplex talks to L'Oréal about an acquisition, and a legal battle ensues

The logo of French cosmetics group L'Oréal is seen on the company's building in Clichy, near Paris. L'Oreal and Olaplex became embroiled in a dispute over trade secrets. Thomson Reuters

Private equity firm Advent International acquired Olaplex in November 2019.

An Olaplex shampoo bottle.Insider

Rival bond-builder haircare products hit the market, giving Olaplex a run for its money.

Eric Pressly, one of the chemists who developed Olaplex, launched Epres in 2022.Espres

Olaplex went public in September 2021.

New York Stock Exchange, Wall St, New York, USA.Getty Images

Olaplex removes lilial, an ingredient linked to fertility and reproductive problems, from one of its products

The phase-out of lilial affected Olaplex's No. 3 hair mask.Facebook

Reports emerge that some Olaplex users lost their hair after using the brands' products.

An Olaplex customer holds a clump of hair in her hand.Keannia Johnson

Olaplex's CEO defends its products against the claims, calling them 'a fact of life in our industry.'

JuE Wong, the CEO of Olaplex, defended the haircare company.Cindy Ord/Getty Images for T.J. Martell

Olaplex loses ground with stylists, who helped introduce the brand to new customers.

Olaplex's CEO called stylists' recommendations to clients the "number one source of truth." JP Yim / Getty

JuE Wong announces departure as Olaplex's CEO and will be replaced by Supergoop's Amanda Baldwin

Amanda Baldwin is slated to become CEO of Olaplex in early 2024.Olaplex

Olaplex's stock has lost 89% of its value since its 2021 IPO.

Traders work on the floor of the New York Stock Exchange.Michael M. Santiago/Getty Images

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