Wella Company has marked its third year as an independent company, demonstrating broad-based growth balanced across brands, categories and geographies. The company achieved high single-digit growth in constant currency in Fiscal Year 2023, which closed at the end of June, cementing its foothold as one of the fastest-growing companies in the hair and nail sector.
Since its inception in 2020, when Coty sold it to KKR, Wella Company has reported year-over-year growth in both developed and emerging markets. Continuing on the success of its leading professional hair color brand, Koleston Perfect (KP), which sold 1.5 tubes per second globally in FY23, the company has established its professional color credential as the No. 1 Salon Color Brand in the World, and continues to invest behind elevating its core through expansion into hair care, as well as across the nail and beauty tech portfolio. The company has also grown its e-commerce sales at a rate of more than 2x market growth by increasing partnerships with top e-retailers, investing in digital-first brand building, and consistently improving user experience on its owned eComm platform WellaStore to meet the needs of salon professionals.
"Looking at 2023, we are beginning to realize the benefits of the successful brand transformations across our portfolio and breakthrough innovations. We are also seeing our business mature and expand across channels and markets. All of our brands and geographies are growing ahead of the category, which is an indicator that we have tremendous upside yet to unlock,” said Annie Young-Scrivner, Chief Executive Officer of Wella Company. She added, “In Fiscal Year 23, we grew our top line and profitability and expanded our market share, and we expect Fiscal Year 2024 will continue that growth trajectory.”