Olaplex Said to Hire Financo for Investment Deal

Olaplex has hired Financo to explore deal options, according to industry sources. The business does about $100 million in sales, and is looking for an investor, sources said. The process is said to be primarily focused on private equity firms. Olaplex was the first to bring bond-building products, which aim to repair damaged hair, to the market. Since Olaplex launched in 2014, many companies have launched copycat bond builders. In 2018, Olaplex won a lawsuit against L’Oréal in the U.K., alleging that its L’Oréal Professionnel Smartbond product infringed on an Olaplex patent. Before the L’Oréal product was launched, the two had been in deal talks, court proceedings revealed. L’Oréal appealed the court’s decision, and that decision is expected at the end of 2019 or early 2020. Olaplex products are credited with strengthening hair enough to bleach it to extremes — before, hair would simply break off. The business is sold primarily in the professional channel, but is said to be growing quickly on the consumer side, and sells some products through Sephora. In August, The NPD Group beauty industry analyst Jennifer Famiano said Olaplex “though still in its infancy, is the third fastest growing brand in overall hair care when ranking on incremental dollar gain.” The

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