Olaplex
| Company type | Public |
|---|---|
| Industry | Hair care |
| Founded | 2014 |
| Founder | Dean Christal |
| Headquarters | United States |
Key people | Amanda Baldwin (CEO, from 2024), JuE Wong (CEO, 2020–2023), John Bilbrey (interim CEO, 2023) |
| Products | Hair care products featuring bis-aminopropyl diglycol dimaleate (BADGD) |
| Parent | Advent International (acquired 2019) |
Olaplex is a specialized hair care line established in 2014 by Dean Christal. Created with the expertise of chemists Eric Presley and Craig Hawker, its formulations aim to repair hair by reconnecting bonds damaged through chemical treatments, heat styling, and physical wear.
History
Olaplex was founded in 2014 and later acquired by Advent International in 2019. The company launched its initial public offering on the Nasdaq stock exchange on September 30, 2021, successfully raising $1.5 billion by issuing 73.7 million shares.
From 2020 until 2023, JuE Wong held the position of CEO. In October 2023, Olaplex announced that Amanda Baldwin, previously the CEO of Supergoop, would assume the CEO role starting in 2024. Until then, John Bilbrey, serving as executive chair, will fulfill the duties of interim CEO.
Ingredients
The entire Olaplex product range incorporates a proprietary compound known as bis-aminopropyl diglycol dimaleate (BADGD), which is engineered to reconstruct broken disulfide bonds within hair.
BADGD works by strengthening disulfide linkages inside the hair fiber, crucial for maintaining resilience and elasticity. It interacts with cysteine components in keratin to mend damaged bonds and creates a shield protecting hair from chemical procedures and environmental damage.
This ingredient proves particularly beneficial for hair types that are coarse, curly, fine, or compromised, contributing significantly to hair fortification and restoration of its natural structure. The use of BADGD supports sustained hair health and improved visual condition.
Lawsuits
In 2015, Olaplex engaged in acquisition discussions with L'Oréal, which ultimately did not materialize. Following this, Olaplex initiated legal action against L'Oréal for allegedly misappropriating confidential information shared during talks. Although L'Oréal was initially convicted in 2019, the decision was reversed on appeal, leading to an out-of-court settlement between the parties.
In February 2023, a group of 28 women filed a lawsuit claiming that Olaplex products caused hair damage and loss. The complaint alleged that Olaplex continued distributing older product versions containing Lilial, a chemical with potential toxicity concerns, despite reformulating their formulas. Olaplex responded by presenting independent safety testing data. By May 2023, no trial date had been established; by June, more than 100 plaintiffs had joined a proposed class action suit. However, U.S. District Judge R. Gary Klausner determined that the claims were too heterogeneous for class certification and dismissed the lead plaintiff's case without prejudice.
These legal challenges have significantly affected Olaplex’s standing within the hairstyling community, sales figures, and stock value—resulting in an 89% decline in share price by late 2023—marking a notable financial downturn.