Investment Review №354. AI lends a hand to the bulls
Yerlan Abdikarimov
Head of Financial Analysis Department at Freedom Broker
IPO The Wella Company. Global Haircare and Nail Care Brand
On August 31, 2026, The Wella Company filed to go public. The company manufactures haircare, nail care and beauty products under a portfolio of brands. The offering is being underwritten by Goldman Sachs, BofA Securities, KKR, J.P. Morgan, William Blair, TD Securities, BNP PARIBAS, Crédit Agricole CIB, BBVA, COMMERZBANK and others
Investment Potential
Company Overview. Wella positions itself as the world’s largest company focused exclusively on haircare and nail care products, with a presence in more than 100 countries. The company’s products include hair coloring, care, styling, and treatment products, nail polishes and nail care products, as well as hair dryers. Its brand portfolio operates across both the professional and retail segments and includes Wella Professionals, ghd, Clairol, OPI, Wella/Koleston, Sebastian Professional, and Nioxin. Wella serves more than 250,000 beauty salons and hundreds of thousands of stylists worldwide. Its premium hair color and haircare brand Wella Professionals has ranked No. 1 globally in salon hair color for six consecutive years, while OPI is the No. 1 global brand in premium retail nail polish.
Market Opportunity. According to Euromonitor, the global beauty market remains one of the fastest-growing categories within the broader consumer staples universe, with projected annual growth of 5.7% from 2025 to 2029. Euromonitor expects growth to be supported by rising consumer focus on health, wellness, and self-care, continued product innovation, category premiumization, and omnichannel distribution. The hair and nail market stood at $105bn in 2025.
Financials. In fiscal 2025, revenue grew 4%, accelerating to 9% in fiscal 2026. EBIT margin increased from 2% in fiscal 2024 to 8% in fiscal 2026. At the end of fiscal 2026, the company’s debt accounted for 42% of total assets.