Manufacturer of hair care products
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
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 2016, Coty bought 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
- 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]
Charity
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]
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£50,360,000 (2006)