Procter & Gamble will acquire Ouai, a hair care and lifestyle brand. Company Founder Jen Atkins will remain with the company as chief creative officer. Colin Walsh will continue as chief executive officer.
A purchase price was not disclosed.
“We spent many, many, many hours and, you know, really thought about who was going to be the best partner for Ouai and you know, we’re a brand that is so committed to not only just making really high-quality products, but having a voice and doing good in the world,” Atkin said. “I was so shocked and really pleasantly surprised at all the work that P&G has been doing and their commitment to responsible beauty and sustainability and quality, inclusion, well-being.”
Since its inception in 2016, Ouai has expanded beyond hair care into candles, body care, fragrances and supplements. Like many other brands born in the past five years, Ouai relies on its loyal customers for input on product development. The brand has more than 4.2 million followers on Instagram and connects with them via surveys.
Ouai reportedly has sales of $50 million this year and sales could top $80 million in 2022, according to sources.
“Jen and Colin will be the people truly leading, defining the brand’s expansion and those type of things, but I do I do personally see, and I know that they do, a geographical expansion of that core brand and its core offering as a great opportunity,” said Alex Keith, CEO of P&G Beauty.
More P&G News
P&G Group and A.S. Watson Group recently launched a new Japanese skin care brand in the physical and online stores of Watsons in the Greater China markets. The new brand, Aio, is aimed to attract Gen Z & Millennials and have a larger proportion of sales from online channels. Furthermore, Aio is designed with fully recyclable packaging.
Furthermore, in November, P&G acquired Farmacy Beauty, an indie beauty brand that calls itself, “farm-to-face skin care.”