THE WHAT? Olaplex Holdings has announced its results for the third quarter of fiscal 2023. The hair care company saw sales plummet 30 percent to US$123.6 million and income nosedive from Q3 2022’s US$60.8 million to US$20.4 million.
THE DETAILS By channel, Professional delivered net sales of US$48.3 million, down 23.3 percent on the prior year period; Specialty Retail dropped 41.8 percent to US$43.2 million and DTC fell 18.2 percent to US$32.1 million.
THE WHY? The company said it experienced a continued lower level of demand for its products versus the same period in 2022. J.P. Bilbrey, the Company’s interim Chief Executive Officer, said, “Our third quarter results and the encouraging early indicators from our increased investments support our belief that we are making solid progress towards stabilizing our sales trend in the second half of 2023. We remain excited about the untapped opportunities ahead of OLAPLEX and are implementing changes that we believe will position the brand for long-term profitable growth.”
Buy aesthetic products refers to the act of purchasing items that are specifically designed for enhancing or maintaining beauty, often related to skincare, cosmetics, or procedures in the field of aesthetics. These products can include a wide range of items intended to improve the appearance and health of the skin, hair, and body. Here are some examples of aesthetic products that individuals might purchase:
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Skincare Products: Including cleansers, moisturizers, serums, and treatments targeting specific skin concerns such as acne, aging, hyperpigmentation, and sensitivity.
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Cosmetics: Makeup products such as foundations, concealers, eyeliners, lipsticks, and eyeshadows designed to enhance facial features and achieve desired looks.
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Hair Care Products: Shampoos, conditioners, styling products, and treatments to maintain and improve the health and appearance of hair.
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Dermatological Treatments: Prescription or over-the-counter treatments for medical conditions like acne, eczema, psoriasis, or rosacea.
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Aesthetic Devices: Equipment used for professional treatments including laser devices, microneedling pens, radiofrequency devices, and IPL (Intense Pulsed Light) machines.
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Injectable Aesthetics: Products such as dermal fillers and botulinum toxin (Botox) used to enhance facial contours, reduce wrinkles, and achieve smoother skin.
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Nutritional Supplements: Supplements aimed at promoting skin health, hair growth, and overall well-being, often containing vitamins, minerals, and antioxidants.
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Home Use Beauty Devices: Devices like facial cleansing brushes, LED light therapy masks, and microcurrent devices designed for at-home skincare treatments.
