Olaplex Holdings, Inc. has announced Q1 2024 net sales of $98.9 million, a 13% decline year-over-year. Based on these results, Olaplex continues to forecast full-year net sales of $435-463 million, representing a range of a 5% decline to a 1% increase year-over-year.
During Q1, the professional channel, the brand's largest market, decreased 19.9%, the specialty retail sector declined 1.2%, and direct-to-consumer declined 15.7%.
During the period, net sales increased 2.5% in the United States and decreased 24.3% internationally.
Amanda Baldwin, Olaplex's CEO, noted, "Our first quarter results represent progress on the business transformation plan that we outlined earlier this year. I am encouraged with our performance to date and believe we are well-positioned to achieve our goals for 2024."
