Wella Company CEO Annie Young-Scrivner: 'What happened with skin care is happening with hair care'

Hair care has been a passion for Annie Young-Scrivner, CEO of Wella Company, since she was 13 years old when she started a side business cutting and perming hair. So when the executive was recruited from Godiva where she served as CEO for three years to join the 140-year-old hair-care and nail company, she jumped at the opportunity. Private equity firm KKR named Young-Scrivner as the CEO of Wella Company in Oct. 2020 following the announcement of its acquisition of 60% of the company from Coty. Wella distributes hair-care brands such as Wella Professionals, Clairol, Nioxin, GHD and nail polish brand OPI. In Dec. 2021, the company celebrated its first anniversary as an independent company. KKR and Wella Company have noted the ambitions to IPO in approximately four years. “We have a tremendous opportunity to be an incredible company. The first thing we're focused on is making sure we have the right [products] to meet the needs of the consumer,” said Young-Scrivner on the Glossy Beauty podcast. “The second thing is making sure we're growing in the right way. There's going to be lots of [exit] options for us.” When it comes to building a product and brand portfolio that stands the test of time, Wella is focusing on storytelling across all of its brands. This includes Wella Professional. Its Shinefinity long-lasting color glaze speaks to the health of hair, with the tagline “Shine you can feel." Wella has over 1,000 patented products and technologies it can use to position itself as a superior beauty company offering innovative products, Young-Scrivner said. OPI has also looked to unique opportunities to capture new customers and communities by partnering with Xbox in January. So far these efforts are paying off, as Wella’s professional sales channel has experienced a double-digit sales growth compared to the fiscal year 2019, and both its e-commerce and retail channels are growing substantially, said Young-Scrivner.