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Olaplex Holdings Inc., a manufacturer of hair products, has filed an initial public offering, according to a filing filed Friday night. Private Equity Advent and other funds bought Olaplex in January 2020. The company asked to sell $ 100 million worth of shares, although that amount is often a placeholder used to calculate filing fees. Olaplex recorded sales of $ 270 million in the six-month period ended June 2021, up from $ 100 million a year ago. It earned $ 95 million in the period, up from losses of $ 22 million a year ago. The pandemic has shifted demand for Olaplex’s products to specialty retail and direct-to-consumer businesses, the company said. “This change has allowed us to scale our DTC capability faster than expected,” the company said on the file. “Even though the shows at our professional channel locations have reopened, we haven’t seen a drop in demand for our products in our DTC channel, and we don’t expect to,” he said. . The company also started an affiliate program last year for hairdressers to sell Olaplex products for in-home use, he said. Olaplex would be listed on Nasdaq under the symbol OLPX. Underwriters include Goldman Sachs, JPMorgan and Morgan Stanley.
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