Hair-care company aims for growth after social media backlash

  • Olaplex appoints Marc Jacobs’ former marketing chief as CMO
  • New C-suite members join to revamp brand image and strategy
  • Company faces decline in sales and online criticism

Olaplex, the hair-care brand that once enjoyed online popularity, has appointed Katie Gohman, former marketing chief of Marc Jacobs, as its Chief Marketing Officer. The company is looking to recover from a tarnished image and declining sales by revamping its C-suite with female executives from other successful brands. Olaplex’s new strategy includes rebuilding relationships in the professional hair community and reassessing marketing messages. The brand aims to regain its position as a leading hair-care company.

Factuality Level: 7
Factuality Justification: The article provides accurate information about Olaplex’s recent changes in leadership and its efforts to restore its brand image after facing criticism. However, it contains some minor errors in the timeline of events (e.g., incorrect years for CEO and CMO tenures).
Noise Level: 6
Noise Justification: The article provides some relevant information about Olaplex’s recent changes in leadership and its efforts to restore its brand image, but it also includes outdated dates (e.g., 2022, 2023) and lacks a comprehensive analysis of the company’s challenges and potential solutions.
Private Companies: Olaplex,L’Oréal,Coach,Ralph Lauren,Marc Jacobs,Supergoop
Key People: Katie Gohman (Chief Marketing Officer), Charlotte Watson (Former Chief Marketing Officer), Catherine Dunleavy (Joint Chief Operating Officer and Chief Financial Officer), Amanda Baldwin (Chief Executive), JuE Wong (Previous CEO)

Financial Relevance: Yes
Financial Markets Impacted: Olaplex’s stock and revenue
Financial Rating Justification: The article discusses the appointment of new executives, financial performance (decline in net sales and stock price), and plans to restore brand image and increase marketing budget. This impacts the company’s financial situation and potentially its future performance in the market.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article. The company faced online criticism and a decline in sales, but it’s not considered an extreme event.

Reported publicly: www.wsj.com