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Olaplex Raises Over $1.55 Billion in IPO

Published October 4, 2021
Published October 4, 2021

Advent International-backed Olaplex, the cult haircare brand that pioneered the bond-building market, made its debut on the public market, beating expectations and raising over $1.55 billion.

WHO: Olaplex was founded in 2014 by beauty industry veterans Dean and Darcy Christal, who commercialized a revolutionary, patented technology that works on a molecular level to protect and repair hair from damage. Olaplex, considered a pioneer in the bond-building category became a global sensation, selling product through both the professional and consumer channels. Private equity firm Advent International acquired the business in 2019.

WHY: The company will focus on growing its existing business and explore adjacent categories such as skin and nail care.

IN THEIR OWN WORDS: "The hair care and consumer business is very much resonating with investors," Olaplex Chief Executive Officer JuE Wong said in an interview. "Hair care is a movement."

“Hair care as a beauty category has always been a little bit of a stepchild," Wong said. "Through the pandemic, it really had an opportunity to shine. Today, we see hair care almost like skincare with the ritualization of haircare. Women are willing to pay a premium.”


  • Olaplex's shares are trading on the Nasdaq Global Select Market under the symbol OLPX.
  • Shares sold for $21 in the IPO and rose as much as 26% in the first day of trading (September 30), closing at $24.50, giving the company a market value of $16 billion and raising $1.55 billion.
  • The company did not offer any shares in the IPO and will not receive any proceeds from it.
  • Accounting for employee stock options, Olaplex has a fully diluted value of more than $14 billion.
  • Advent and other Olaplex investors sold 73.7 million shares after marketing 67 million for $17 to $19.
  • Mousse Partners, the investment firm for the family behind Chanel, sold shares worth $95.2 million, keeping an about $800 million stake, based on the offering price.
  • According to Olaplex's filings with the U.S. Securities and Exchange Commission, Advent International will control about 80% of the shareholder voting power after the listing, while Mousse Partners will control about 6%.
  • Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley, and Barclays Plc led the offering.
  • The company listed sales of $270 million in the six months ended June 2021, up from $100 million during the same period in 2020. It earned $95 million in the period, compared to losses of $22 million a year ago.
  • International distribution accounts for 44% of its business.

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