Under the guiding vision of its new CEO Amanda Baldwin, Olaplex is looking to bring its business into a new era of growth with a visual branding update and new category launch.From a (now settled) class-action lawsuit in 2023, all claims of which were later dismissed by the court, to subsiding sales figures, it has been a challenging time for the company. For Q3 2024, it reported a net decrease of 3.6% in sales ($119.1 million), 12.6% decrease in its professional channel ($42.2 million), and a 1.3% decrease in specialty retail (to $42.6 million). Direct-to-consumer (DTC) meanwhile increased by 6.8% to $34.3 million. On a consumer research side, Olaplex was still in the top 10 most-searched-for brands according to the Cosmetify Annual Index 2024, with 14.88 million annual searches, but this was still an 18% decrease.Baldwin joined in December 2023, after seven years as CEO of Supergoop! and a tenure as Senior Vice President at global investment fund L Catterton. "Amanda is a leader in growing prestige beauty brands, and we are delighted to welcome her as CEO of Olaplex," said John Bilbrey, Executive Chair of the Board, at the time of the announcement. “She is an effective and creative brand builder who deeply understands consumer insights and analytics. Her valuable mix of strengths across marketing, product development, and execution make her the ideal person to position Olaplex for long-term success. I look forward to working with her and the talented Olaplex team to continue building the business while ensuring a seamless leadership transition.