Olaplex: can science rebuild a beauty empire?

The beauty industry thrives on reinvention, and Olaplex, once the undisputed champion of bond-building haircare, is now facing its most significant test yet. After a tumultuous few years marked by legal challenges, declining sales, and a crowded market, the brand is betting on a return to its scientific roots under the leadership of CEO Amanda Baldwin.

A fallen star recovers its spark

Olaplex’s ascent was meteoric. Launched in 2014, its patented technology—linking broken disulfide bonds within hair—became a beauty phenomenon. But the brand’s dominance didn’t last. Competition intensified as virtually every prestige and drugstore label incorporated similar technologies, and a 2023 lawsuit alleging product-related hair damage cast a shadow over the brand. The contested lawsuit, now dismissed, nonetheless highlighted vulnerabilities in Olaplex’s image and fueled consumer skepticism.

Annual sales plummeted from a pandemic-era peak of $704 million to $423 million in 2025, a stark illustration of the challenges facing the company, recently acquired by Advent International and briefly public before shares nosedived. Whispers of a takeover by Henkel surfaced earlier this year, though Olaplex remained tight-lipped.

The baldwin blueprint: science, storytelling, and stylists

Baldwin’s arrival in early 2024 marked a calculated shift. Rather than radical overhaul, she prioritized reinforcing Olaplex’s foundational strengths. “We had to build a team and an operating structure that can support a Business of our size,