KUALA LUMPUR, Dec 2 (Bernama) -- Wella Company, a global leader in the US$100 billion beauty industry, has celebrated its one-year anniversary as a stand-alone company.
Wella Company has a top professional and retail hair, beauty tech and nail portfolio of iconic brands, including Wella Professionals, Clairol, OPI, Nioxin, Sebastian Professional and ghd (good hair day).
Founded in Germany in 1880, the Company returned to independent operating status on Dec 1, 2020, led by global investment firm Kohlberg Kravis and Roberts (KKR) investing a majority-equity stake, which they have twice increased over the past year.
Wella Company emerged in the midst of the global COVID-19 pandemic, during which almost the entire professional salon industry – the company’s core customer base – was in lockdown.
Despite this challenging global environment, the company set its growth strategy, focused on building the operating foundation for stand-alone success.
“In our company’s first year, our team has much to be proud of. We achieved independent status at a difficult time for the beauty industry and have posted strong revenue growth compared against both 2020 and 2019.
“Our fiscal year, which began on July 1, has started strong. Our overall business is very healthy, and our financial performance is over-delivering against our annual targets across every business and every geography,” said Annie Young-Scrivner, CEO of Wella Company in a statement.
For more information, visit www.wellacompany.com.
-- BERNAMA
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