OLAPLEX and Ulta Beauty extend beyond the salon to attract attention
OLAPLEX to launch retail products in Ulta beauty stores and online
SANTA BARBARA, Calif., November 29, 2021 (GLOBE NEWSWIRE) – Olaplex Holdings, Inc. (NASDAQ: OLPX) (âOLAPLEXâ or the âCompanyâ), an innovative, scientific and technology-driven beauty company focused on supplying premium, patent-protected hair care products to professional hair salons, retailers and everyday consumers, today announced its distribution expansion with Ulta Beauty. Building on OLAPLEX’s success with its recent launch of professional hair products in Ulta beauty salons, the company’s retail products will be available in each of more than 1,250 beauty stores from leading beauty retailers. and on ulta.com from January 2022.
âWe are delighted to extend our successful partnership with salons with the introduction of our innovative and bonding prestige hair care product offering at Ulta Beauty,â said JuE Wong, President and CEO of OLAPLEX. âCustomers who visit Ulta beauty salons have experienced the benefits of OLAPLEX. And, as we’re launching in January, they’ll find our products for purchase at the front of the store, helping them achieve their hair goals with every home use. This expansion complements our current presence in specialty retail, further strengthening our positioning as a leader in hair care. We believe this is another indication of the strong momentum we have as we enter 2022. â
âWe are delighted to expand our partnership and introduce even more guests to OLAPLEX with this exciting announcement,â said Monica Arnaudo, Director of Merchandising, Ulta Beauty. âStaying close to our customers is paramount and we have heard their desire for more OLAPLEX products. The brand has already had an extremely positive impact in our salon offerings, and we look forward to seeing this passion grow as we launch the products within our assortment in all Ulta Beauty stores across the country and online.
The Company noted that the expansion of its retail products in Ulta Beauty was already reflected in the forecast for fiscal 2021 previously disclosed and provided on November 10, 2021.
OLAPLEX is an innovative, scientific and technology-driven beauty company with a mission to improve the hair health of its consumers. Revolutionary brand, OLAPLEX has paved the way for a new category of hair care called “bond building,” the process of protecting, strengthening and rebuilding broken bonds in hair during and after hair services. The brand’s products contain a patent-protected active ingredient that works at the molecular level to protect and repair hair from damage. OLAPLEX’s award-winning products are sold through a global omnichannel platform serving professional, specialty retail and direct-to-consumer channels.
Caution Regarding Forward-Looking Statements
This press release includes forward-looking statements and information relating to the Company which are based on the beliefs of management as well as on the assumptions made by the Company and the information currently available to it. These forward-looking statements can generally be identified by the use of words such as “could”, “will”, “could”, “should”, “intend”, “possible”, “continue”, “,” estimate “,” Expect “,” plan “,” target “,” predict “,” plan “,” seek “and similar expressions that concern us. These forward-looking statements address various matters, including: the timing and availability of the Company’s products at Ulta Beauty outlets and the Company’s financial condition and results of operations. These statements reflect the current views of management with respect to future events, are not guarantees of future performance, and involve risks and uncertainties that are difficult to predict. Each forward-looking statement contained in this press release is subject to risks and uncertainties which could cause actual results to differ materially from those expressed or implied by such statement. The applicable risks and uncertainties include, among others: the ability of the Company to implement its growth strategies and expansion opportunities; increased competition forcing the Company to reduce the prices of its products or significantly increase its marketing efforts in order to avoid losing market share; the Company’s existing and future debt, including the Company’s ability to comply with positive and negative covenants under its credit agreement to which it will remain subject until maturity, and the Company’s ability to obtain additional financing on favorable terms or not at all; the Company’s dependence on a limited number of customers for a significant portion of its net sales; the Company’s ability to effectively market and maintain a positive brand image; changes in consumer preferences or changes in demand for hair care products or other products that the Company may develop; the Company’s ability to accurately forecast consumer demand for its products; the Company’s ability to maintain favorable supplier relationships and manage our supply chain, including obtaining and maintaining shipment distribution and raw materials at favorable prices; the Company’s relationships with and the performance of distributors and retailers who sell its products to hairdressers and other customers; the impacts on the Company’s activities due to the sensitivity of its activities to unfavorable economic and commercial conditions; the Company’s ability to efficiently and profitably develop, manufacture and market and sell future products; the inability of markets to accept the introduction of new products; the Company’s ability to attract and retain senior management and other qualified personnel; regulatory changes and developments affecting the Company’s current and future products; the Company’s ability to service its existing debt and raise additional capital to finance its operations and growth opportunities; the impacts on the Company’s business of political, regulatory, economic, commercial and other risks associated with international operations, including exchange rate volatility and the imposition of tariffs; the Company’s ability to establish and maintain the intellectual property protection of its products, as well as the Company’s ability to conduct its business without infringing, misappropriating or otherwise violating the intellectual property rights of others; the impact of the cost of materials and other inflation and our ability to pass these increases on to customers; the impact of changes in laws, regulations, and administrative policy, including those that limit United States tax benefits or impact trade agreements and tariffs; the outcome of litigation and government proceedings; the impacts on the Company’s activities of the COVID-19 pandemic; and the other risks identified under the heading âRisk factorsâ in the final prospectus of September 29, 2021 relating to the initial public offering, filed with the Securities and Exchange Commission (the âSECâ) on October 1, 2021, as well as other information that we file with the SEC. The Company cautions investors not to place significant reliance on any forward-looking statements contained in this press release. We encourage you to read the Company’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements contained in this press release speak only as of the date hereof, and the Company assumes no obligation to update or revise any such statement. The activities of the Company are subject to significant risks and uncertainties, including those mentioned above. Investors, potential investors and others should carefully consider these risks and uncertainties.
Allison Malkin / Annie Erner
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