KUALA LUMPUR, Nov 30 (Bernama) -- Wella Company, an innovative global leader in the beauty industry marked its third year as an independent company, demonstrating broad-based growth balanced across brands, categories and geographies.
Wella Company achieved high single-digit growth in constant currency in fiscal year 2023 (FY23), which closed at the end of June, cementing its foothold as one of the fastest-growing companies in the sector.
“Looking at 2023, we are beginning to realise the benefits of the successful brand transformations across our portfolio and breakthrough innovations. We are also seeing our business mature and expand across channels and markets.
“In fiscal year 23, we grew our top line and profitability and expanded our market share, and we expect fiscal year 2024 will continue that growth trajectory,” said its Chief Executive Officer, Annie Young-Scrivner in a statement.
Continuing on the success of its leading professional hair colour brand, Koleston Perfect (KP), which sold 1.5 tubes per second globally in FY23, the company has established its professional colour credential as the No. 1 Salon Color Brand in the World, and continues to invest behind elevating its core through expansion into hair care, as well as across the nail and beauty tech portfolio.
The company has also grown its eCommerce sales at a rate of more than twice the market growth by increasing partnerships with top eComm retailers, investing in digital-first brand building, and consistently improving user experience on its owned eComm platform WellaStore to meet the needs of salon professionals.
Since its inception in 2020, Wella Company has reported year-over-year growth in both developed and emerging markets with portfolio of iconic professional and retail hair, nail, and beauty tech brands including Wella Professionals, O·P·I, ghd, Briogeo and Nioxin.
The company’s innovations touted patented technology in several areas, while continuing to elevate the look and experience of its brand portfolio, which include launching a revolutionary hair product innovations combining both speed and performance results, in addition to refreshed its packaging across its haircare line, including shampoos and conditioners, contributing to driving double-digit revenue growth globally.
Meanwhile, addressing the growing trend in scalp care, the company introduced two top-performing entrants into the space including Nioxin Ultimate Power Serum, a highly effective leave-on scalp treatment designed to strengthen hair from the root and increase hair anchorage.
It also issued Environmental and Social Impact Report 2022, the first measured analysis of its efforts to positively impact People, Planet and through its Products with key highlights include a broad-based employee ownership programme, and committed to reducing carbon footprint as well as water use and waste.
-- BERNAMA
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