Olaplex Holdings, Inc.
IndustryProfessional hair care
Founded2014
FounderDean Christal
HeadquartersSanta Barbara, CA
Key people
OwnerAdvent International
Websitewww.olaplex.com

Olaplex is a hair care brand founded in 2014 by Dean Christal. [1] The product was developed by two chemists, Eric Presley and Craig Hawker, and is advertised to rebuild broken bonds in hair caused by chemical, thermal, and mechanical damage.[2][3]

History

Olaplex was founded in 2014 by Dean Christal. In 2019, Olaplex was acquired by Advent International. JuE Wong was the CEO from 2020 until 2023. [4][5] In October 2023, Olaplex announced that Amanda Baldwin, former CEO of Supergoop, would be taking over in 2024 as CEO of Olaplex.[5] John Bilbrey, executive chair on the board, will serve as interim CEO until 2024. [5][6]

Ingredients

All Olaplex products contain a patented ingredient called bis-aminopropyl diglycol dimaleate, with the aim of rebuilding broken hair disulfide bonds. [7]

Lawsuit

In February 2023, 28 women filed a lawsuit against Olaplex claiming that the products led to damaged hair and hair loss.[8]Olaplex published results from third-party testing to show the products are safe. [9] As of May 2023, no trial date had been set.[10] By June 2023, a proposed class action lawsuit had over 100 plaintiffs. U.S. District Judge R. Gary Klausner ruled that the claims were too different for it to be a class action lawsuit and the first-named plaintiff dismissed her case without prejudice.[11]

References

  1. ↑ "Advent-Owned Haircare Firm Olaplex Valued at $13.6 Billion in Upsized IPO". The Business of Fashion. 2021-09-30. Retrieved 2023-09-15.
  2. ↑ "What is Olaplex and How Does It Keep Kim K's Hair Looking So Damn Good?". 18 April 2018.
  3. ↑ "Celebrity-adored Olaplex has just added an epic new product collection! Here's a guide to the insanely popular hair heroes". 9 April 2021.
  4. ↑ Luce, Ivan De (2021-09-01). "How Olaplex grew from a cult haircare brand into a beauty staple seeking a $1.5 billion IPO". www.businessofbusiness.com. Retrieved 2023-10-03.
  5. 1 2 3 "Olaplex CEO JuE Wong to Step Down". The Business of Fashion. 2023-10-12. Retrieved 2023-10-20.
  6. ↑ Dawson, Gloria. "Olaplex's CEO, who once said hair loss complaints are 'sadly, a fact of life in our industry,' steps down". Business Insider. Retrieved 2023-10-20.
  7. ↑ "Here's the Tea on the Olaplex Hair Treatment". 26 April 2018.
  8. ↑ Archie, Ayana (16 February 2023). "Nearly 30 women are suing Olaplex, alleging products caused hair loss". npr. Retrieved 27 September 2023.
  9. ↑ "Olaplex products cause hair loss, lawsuit claims". BBC News. 2023-02-16. Retrieved 2023-10-03.
  10. ↑ Zuritsky, Kate (2023-05-25). "Does Olaplex Really Cause Hair Loss? The Truth Behind the Lawsuit". Green Matters. Retrieved 2023-10-03.
  11. ↑ "Olaplex Lawsuit Guide 2023 – Forbes Advisor". www.forbes.com. Retrieved 2023-11-13.
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