Good Hair Day

Last updated

Good Hair Day
Company type Privately held
Industry Hair styling
FoundedJanuary 2001
FounderMartin Penny, Gary Douglas and Robert Powls
Headquarters Bridgewater Place, Leeds, United Kingdom
RevenueIncrease2.svg £50,360,000 (2006)
Increase2.svg £9,600,000 (2006)
Parent Wella
Website ghdhair.com

Good Hair Day, abbreviated to ghd, is a manufacturer of hair care products based in Leeds, United Kingdom. [1] The company is known for its hair straightening irons and is sold in over 50,000 salons worldwide. [2] [3] The company was the first hair tool sponsor of the Victoria's Secret Fashion Show. [4] [5]

Contents

History

Martin Penny, Gary Douglas, Susan Powls, and Robert Powls founded ghd in January 2001. [6] [7] The three collaborated to buy the rights to a hair straightening iron from an inventor in South Korea. [8] The brand grew organically from word of mouth, and began their first advertising campaign two years later. [9] [10] By then, hair salons had purchased £12 million of stock, against a forecast of between £3 million and £4 million. [8]

In May 2004, ghd entered the North American market, which helped generate worldwide sales of £37 million for the year. [11] In July 2006, The Jemella Group, which owned the ghd brand, was bought by Lloyds Development Capital for £55 million. [6] It was sold eleven months later to Montagu Private Equity for £160 million. [12] in February 2013, Lion Capital, a British private equity firm, purchased ghd for approximately £300 million. [13]

By March 2013, the company had sales totalling over £150 million, more than doubling since 2007, selling over two million styling irons through 50,000 salons worldwide. [3] In 2016, Coty bought ghd for an estimated £420 million from the private equity firm Lion Capital LLP. [14] The sale was completed on 21 November 2016. [15]

On December 1, 2020, Coty completed sale of Wella, Clairol, OPI and ghd brands stake to KKR for $2.5bn in cash whilst retaining 40% stake in the standalone company. [16] On October 1, 2021, Coty announced that it would sell approximately 9% of its shares to KKR for $426.5 million. The deal cuts Coty's stake in Wella, Clairol, OPI and ghd brands to around 30.6%. [17]

On November 8, 2021, Coty has agreed to sell an approximate 4.7% stake in Wella to KKR in exchange for the redemption of approximately 56% of KKR's remaining convertible preferred shares in Coty. The deal reduces Coty's total shareholding in Wella, Clairol, OPI and ghd brands to approximately 25.9%. KKR will continue to have a 2.4% ownership stake in Coty on an as-converted basis. [18]

Products

Advertising and sponsorship

Endorsements

The brand has attracted endorsements from a variety of celebrities including the singer Katy Perry who became the face of ghd in December 2011. [27] [28]

Charity

Since 2004, ghd has raised approximately £2.5 million for the Breakthrough Breast Cancer charity. [29] The company produces a limited edition pink hair iron every year, with £10 of the sale price being donated in support the charity. [30] In January 2010, ghd partnered with charity "Mom It Forward" and SafeHouse Denver, a women's shelter that serves victims of domestic violence and their children, in an event at Sephora. [31]

Related Research Articles

<span class="mw-page-title-main">Hair dryer</span> Type of home appliance used to dry hair

A hair dryer, hairdryer, hairdrier, or blow dryer is an electromechanical device that blows ambient or hot air over damp hair to speed the evaporation of water to dry the hair. Blow dryers enable better control over the shape and style of hair, by accelerating and controlling the formation of temporary hydrogen bonds within each strand. These bonds are powerful but are temporary and extremely vulnerable to humidity. They disappear with a single washing of the hair.

<span class="mw-page-title-main">Clairol</span> Brand of hair care products

Clairol is the American personal care-product division of company Wella, specializing in hair coloring and hair care. Clairol was founded in 1931 by Americans Joan Gelb and her husband Lawrence M. Gelb, with business partner and lifelong friend James Romeo, after discovering hair-coloring preparations while traveling in France. The company became popular in its home country, the United States, for its "Miss Clairol" home hair-coloring kit introduced in 1956. By 1959, Clairol was considered the leading company in the U.S. hair-coloring industry. In 2004, Clairol registered annual sales of US$1.6 billion from the sale of its hair-care products. As of 2014, Clairol manufactures hair-coloring products sold under the brand names "Natural Instincts", "Nice 'n Easy", and "Perfect Lights".

<span class="mw-page-title-main">Coty</span> French American beauty company

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<span class="mw-page-title-main">Moschino</span> Italian fashion house

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<span class="mw-page-title-main">Wella</span> German hair care company

Wella AG is a company specializing in hair care, styling, colorants, and other beauty products, and was founded in 1880 in Germany by Franz Ströher. Its headquartered in Darmstadt, Germany. The company was controlled by Procter & Gamble from 2003 until it was sold to Coty in 2015 along with some 40 other P&G brands. On December 1, 2020, Coty completed the sale of the Wella, Clairol, OPI and ghd brands stake to American private equity firm KKR for $2.5bn in cash whilst retaining 40% stake in the standalone company.

Nice ’n Easy is a shampoo-in permanent hair-colouring product for home use. It was introduced in 1965, billed as the first shampoo-in hair colour, with the advertising tagline, “The closer he gets...the better you look.”

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Kara Young is an American model and entrepreneur. As a model she represented several cosmetics companies and appeared three times on the cover of Vogue, Playboy (Germany) and was an entertainment news correspondent for Fox News Channel, as well as co-founding a hair product company and salon.

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<span class="mw-page-title-main">Rhône Group</span> Private equity firm

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<span class="mw-page-title-main">Younique</span> American multi-level marketing company

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References

  1. ↑ "Hair fashion brand ghd opens new Leeds city cente HQ". Yorkshire Evening Post. 1 October 2008.
  2. ↑ "ghd's straight to the top". Manufacturing Today. 31 January 2008.
  3. 1 2 Ebrahimi, Helia. "£300m swoop gives Lion a Good Healthy Dome". Telegraph.
  4. 1 2 Salapatek, Lauren (21 October 2013). "ghd Announces Sponsorship of the Victoria's Secret Fashion Show". SalonToday.com. Archived from the original on 3 January 2014. Retrieved 3 January 2014.
  5. ↑ Quinn, James (21 March 2006). "ghd straightener pink as £55m talks begin". Daily Telegraph. London. Archived from the original on 31 October 2011. Retrieved 8 July 2010.
  6. 1 2 Quinn, James (21 March 2006). "Good Healthy Dome for GHD as £55m talks begin". Daily Telegraph.
  7. ↑ "ghd: The Story Behind the Brand". Trend Luxury. Archived from the original on 3 January 2014. Retrieved 3 January 2014.
  8. 1 2 "King tong: the man who brought GHD straighteners to Britain". Times Online. 22 March 2008. Archived from the original on 15 June 2011.
  9. ↑ Waithe, Tony (2 January 2012). "A Fantastic Business Model". Sunzu.com.
  10. ↑ "History of ghd". ghdcompare.com. 2 August 2012.
  11. ↑ "GHD sets sights on U.S." Fashion News.
  12. ↑ Quinn, James (17 July 2007). "Montagu smooths way to Jemella buyout". Daily Telegraph.
  13. ↑ Plimmer, Gil (10 February 2013). "Lion Capital acquires GHD". Financial Times.
  14. ↑ "Coty gets Good Hair Day for £420m". The Guardian. Retrieved 10 March 2021.
  15. ↑ "Coty Completes Acquisition of ghd ("Good Healthy Dome")". Coty. 21 November 2016. Archived from the original on 30 January 2017. Retrieved 15 January 2017.
  16. ↑ "Coty Completes Sale Of Wella Stake To KKR". Coty.com.
  17. ↑ "Coty to sell 9% stake in Wella to majority owner KKR". reuters.com.
  18. ↑ "Coty To Sell Additional Stake In Wella To KKR In Deal Valued At Approx. $215.7 Mln". nasdaq.com.
  19. ↑ Woollaston, Vicky (7 October 2019). "GHD Air review". techradar. Retrieved 8 March 2021.
  20. ↑ Keats, Amanda. "The ghd eclipse beats other hair straighteners with new design". Yahoo!.
  21. ↑ Parkinson, Nikki. "DOES YOUR HAIR NEED THE NEW GHD ECLIPSE STYLER?". Styling You.
  22. ↑ Forbes, Jihan (15 September 2020). "GHD's New Platinum+ Straightener Is Even More Epic Than the Last". allure. Retrieved 8 March 2021.
  23. ↑ "Ghd strikes sponsorship deal with Channel 4". Marketing Week. 28 August 2003.
  24. ↑ Golding, Amy. "Ghd launches twisted fairytales ad campaign". Marketing Magazine.
  25. ↑ Clarke, Cameron. "Katy Perry fronts ghd's Scarlet Collection campaign". The Drum.
  26. ↑ Amodio, Jessica (17 October 2013). "GHD Partners with Victoria's Secret". Women's Wear Daily.
  27. ↑ "Katy Perry for ghd Scarlett Collection". Glamour. Archived from the original on 3 January 2014. Retrieved 3 January 2014.
  28. ↑ Krupnick, Ellie (5 December 2011). "Katy Perry Poses for Snow White-Themed Ad Campaign". Huffington Post.
  29. ↑ "Corporate Partners: GHD". Breakthrough Breast Cancer. Archived from the original on 25 September 2010. Retrieved 8 July 2010.
  30. ↑ "Support Breakthrough Breast Cancer with ghd". Handbag.com. Archived from the original on 20 November 2009. Retrieved 8 July 2010.
  31. ↑ Johnson, Amber (25 January 2010). "Mama's Night Out at Sephora Redefines a "GHD" (Good Healthy Dome)". Mile High Mamas.
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