Good Hair Day

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Good Hair Day
TypePrivately held
IndustryHair styling
FoundedJanuary 2001
FounderMartin Penny, Gary Douglas and Robert Powls
HeadquartersBridgewater Place, Leeds, United Kingdom
RevenueIncrease £50,360,000 (2006)
Increase £9,600,000 (2006)
ParentWella
Websiteghdhair.com

Good Hair Day, abbreviated to ghd, is a manufacturer of hair care products based in Leeds, United Kingdom.[1] The company is known for its hair straightening irons and is sold in over 50,000 salons worldwide.[2][3] The company was the first hair tool sponsor of the Victoria's Secret Fashion Show.[4][5]

History[edit]

Martin Penny, Gary Douglas, Susan Powls, and Robert Powls founded ghd in January 2001.[6][7] The three collaborated to buy the rights to a hair straightening iron from an inventor in South Korea.[8] The brand grew organically from word of mouth, and began their first advertising campaign two years later.[9][10] By then, hair salons had purchased £12 million of stock, against a forecast of between £3 million and £4 million.[8]

In May 2004, ghd entered the North American market, which helped generate worldwide sales of £37 million for the year.[11] In July 2006, The Jemella Group, which owned the ghd brand, was bought by Lloyds Development Capital for £55 million.[6] It was sold eleven months later to Montagu Private Equity for £160 million.[12] in February 2013, Lion Capital, a British private equity firm, purchased ghd for approximately £300 million.[13]

By March 2013, the company had sales totalling over £150 million, more than doubling since 2007, selling over two million styling irons through 50,000 salons worldwide.[3] In October 2016, Coty announced it would be buying ghd for an estimated £420 million from the private equity firm Lion Capital LLP.[14] The sale was completed on 21 November 2016.[15]

On December 1, 2020, Coty completed sale of Wella, Clairol, OPI and ghd brands stake to KKR for $2.5bn in cash whilst retaining 40% stake in the standalone company.[16] On October 1, 2021, Coty announced that it would sell approximately 9% of its shares to KKR for $426.5 million. The deal cuts Coty's stake in Wella, Clairol, OPI and ghd brands to around 30.6%.[17]

On November 8, 2021, Coty has agreed to sell an approximate 4.7% stake in Wella to KKR in exchange for the redemption of approximately 56% of KKR's remaining convertible preferred shares in Coty. The deal reduces Coty's total shareholding in Wella, Clairol, OPI and ghd brands to approximately 25.9%. KKR will continue to have a 2.4% ownership stake in Coty on an as-converted basis.[18]

Products[edit]

  • In 2011, ghd launched the V Gold Series Styler.
  • In 2012, ghd launched the Air Professional Hairdryer.[19]
  • In March 2013, ghd launched the "Eclipse" hair straightener.[20] The consistent temperature reduces the time to style hair, particularly coarse hair that may previously taken multiple run throughs.[21]
  • In 2014, ghd launched the Aura Hairdryer and ghd Curve, hair curling range.
  • In 2015, ghd launched the Platinum Styler.
  • In 2018, the GHD platinum Plus styler was launched.[22]

Advertising and sponsorship[edit]

Endorsements[edit]

The brand has attracted endorsements from a variety of celebrities including the singer Katy Perry who became the face of ghd in December 2011.[27][28]

Charity[edit]

Since 2004, ghd has raised approximately £2.5 million for the Breakthrough Breast Cancer charity.[29] The company produces a limited edition pink hair iron every year, with £10 of the sale price being donated in support the charity.[30] In January 2010, ghd partnered with charity "Mom It Forward" and SafeHouse Denver, a women's shelter that serves victims of domestic violence and their children, in an event at Sephora.[31]

References[edit]

  1. ^ "Hair fashion brand ghd opens new Leeds city cente HQ". Yorkshire Evening Post. 1 October 2008.
  2. ^ "ghd's straight to the top". Manufacturing Today. 31 January 2008.
  3. ^ a b Ebrahimi, Helia. "£300m swoop gives Lion a Good Healthy Dome". Telegraph.
  4. ^ a b Salapatek, Lauren (21 October 2013). "ghd Announces Sponsorship of the Victoria's Secret Fashion Show". SalonToday.com.
  5. ^ Quinn, James (21 March 2006). "ghd straightener pink as £55m talks begin". Daily Telegraph. London. Retrieved 8 July 2010.
  6. ^ a b Quinn, James (21 March 2006). "Good Healthy Dome for GHD as £55m talks begin". Daily Telegraph.
  7. ^ "ghd: The Story Behind the Brand". Trend Luxury.
  8. ^ a b "King tong: the man who brought GHD straighteners to Britain". Times Online. 22 March 2008.
  9. ^ Waithe, Tony (2 January 2012). "A Fantastic Business Model". Sunzu.com.
  10. ^ "History of ghd". ghdcompare.com. 2 August 2012.
  11. ^ "GHD sets sights on U.S." Fashion News.
  12. ^ Quinn, James (17 July 2007). "Montagu smooths way to Jemella buyout". Daily Telegraph.
  13. ^ Plimmer, Gil (10 February 2013). "Lion Capital acquires GHD". Financial Times.
  14. ^ "Coty gets Good Hair Day for £420m". The Guardian. Retrieved 10 March 2021.
  15. ^ "Coty Completes Acquisition of ghd ("Good Healthy Dome")". Coty. 21 November 2016. Archived from the original on 30 January 2017. Retrieved 15 January 2017.
  16. ^ "Coty Completes Sale Of Wella Stake To KKR". Coty.com.
  17. ^ "Coty to sell 9% stake in Wella to majority owner KKR". reuters.com.
  18. ^ "Coty To Sell Additional Stake In Wella To KKR In Deal Valued At Approx. $215.7 Mln". nasdaq.com.
  19. ^ Woollaston, Vicky (7 October 2019). "GHD Air review". techradar. Retrieved 8 March 2021.{{cite web}}: CS1 maint: url-status (link)
  20. ^ Keats, Amanda. "The ghd eclipse beats other hair straighteners with new design". Yahoo!.
  21. ^ Parkinson, Nikki. "DOES YOUR HAIR NEED THE NEW GHD ECLIPSE STYLER?". Styling You.
  22. ^ Forbes, Jihan (15 September 2020). "GHD's New Platinum+ Straightener Is Even More Epic Than the Last". allure. Retrieved 8 March 2021.{{cite web}}: CS1 maint: url-status (link)
  23. ^ "Ghd strikes sponsorship deal with Channel 4". Marketing Week. 28 August 2003.
  24. ^ Golding, Amy. "Ghd launches twisted fairytales ad campaign". Marketing Magazine.
  25. ^ Clarke, Cameron. "Katy Perry fronts ghd's Scarlet Collection campaign". The Drum.
  26. ^ Amodio, Jessica (17 October 2013). "GHD Partners with Victoria's Secret". Women's Wear Daily.
  27. ^ "Katy Perry for ghd Scarlett Collection". Glamour.
  28. ^ Krupnick, Ellie (5 December 2011). "Katy Perry Poses for Snow White-Themed Ad Campaign". Huffington Post.
  29. ^ "Corporate Partners: GHD". Breakthrough Breast Cancer. Retrieved 8 July 2010.
  30. ^ "Support Breakthrough Breast Cancer with ghd". Handbag.com. Retrieved 8 July 2010.
  31. ^ Johnson, Amber. "Mama's Night Out at Sephora Redefines a "GHD" (Good Healthy Dome)". Mile High Mamas.

External links[edit]