Olaplex Sales Continued Slide in First Quarter
A double-digit decline was attributed to the brand’s distribution changes.
As Acne opened its third London store, part of a wider global store rollout, BoF sat down with executive chairman Mikael Schiller to discuss the company’s growth, the perils of private equity money and why he sees himself as a Caribbean fisherman.
As Acne opened its third London store, part of a wider global store rollout, BoF sat down with executive chairman Mikael Schiller to discuss the company’s growth, the perils of private equity money and why he sees himself as a Caribbean fisherman.
A double-digit decline was attributed to the brand’s distribution changes.
Spatch will debut on May 4 with a nine-piece collection of skin-perfecting products designed for professional and consumer use.
The Danish company, which makes more pieces of jewellery than any other in the world, said organic sales are projected to rise 8-10 percent this year.
Despite a brief uptick in sales, up 24 percent between 2021 and 2022, the brand’s growth has stalled.
The move comes as System owner Mike Obenson aims to turn what began as a bi-annual print title into a global media brand with a stronger digital offering.
Former Under Armour COO Colin Browne has been appointed to lead the industry organisation formerly known as the Sustainable Apparel Coalition.
The company also beat Wall Street targets for third-quarter results, hinting at a recovery in demand for beauty and cosmetic products in the US after a long bout of inflation.
The British brand’s share price, which has fallen by almost 60 percent this year, declined by a further 4.5 percent in early trading on Wednesday