Good Hair Day (Ghd) premium hair appliance company has seen impressive company growth since being bought by Coty Incorporated last year.
The company was purchased by Coty Incorporated in late last year for NZD$750.8 million. Coty Inc. itself is worth around 9 million and to this day remains one of the world’s largest beauty companies.
The company has been expanding from its core salon channel into premium retail and e-commerce, and remains one of the top retailers for hair care.
Ghd generated ₤178 million in revenues in fiscal year 2016, or NZD$318.2 million, and has seen a company growth of 30 percent over the last three years.
Since becoming part of Coty Professional Beauty division, ghd remains managed as a standalone business led by its current CEO Anthony Davey and management team.
Davey, CEO of ghd, says the business has continue to thrive since its purchase by Coty Inc. and remains cautiously optimistic about the upcoming financial year.
“The combined expertise and capabilities of ghd and Coty will be a powerful force of innovation in the hair business. Together, we will further excite and delight our existing salon partners, clients and consumers, and attract many new ones across the world.”
The purchase of ghd comes shortly before their latest collection which is targeted at millennials around each sector. The new Wanderlust collection launched last week in New Zealand and can be purchased online for $360.
Camillo Pane, Coty CEO, says the purchase of the London based company is a main step in strengthening their key business.
“Not only do we expect ghd to strengthen our professional hair portfolio and enable Coty to provide even better hair solutions, but we also believe there is strong growth potential for ghd across several markets.”
Ghd continues to hold its position as one of the top hair accessories range available in New Zealand. And currently there are 838 stockists in New Zealand alone that sell the popular range. This number is also expected to grow as the latest collection also grows in popularity.
In ten years ghd has increased its earnings to NZD$318.2 from NZD$57 million, an increase of just over 500 percent.