Good Hair Day Explained

Good Hair Day
Logo Alt:ghd-logo
Type:Privately held
Foundation:January 2001
Founder:Martin Penny, Gary Douglas and Robert Powls
Location:Bridgewater Place, Leeds, United Kingdom
Industry:Hair styling
Revenue: £50,360,000 (2006)
Net Income: £9,600,000 (2006)
Parent:Wella

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

Advertising and sponsorship

Endorsements

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

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]

Notes and References

  1. News: Hair fashion brand ghd opens new Leeds city cente HQ . Yorkshire Evening Post . October 1, 2008.
  2. News: ghd's straight to the top . Manufacturing Today. January 31, 2008.
  3. News: Ebrahimi. Helia. £300m swoop gives Lion a Good Healthy Dome. Telegraph.
  4. Web site: ghd Announces Sponsorship of the Victoria's Secret Fashion Show . Salapatek, Lauren . SalonToday.com . October 21, 2013 . 3 January 2014 . 3 January 2014 . https://web.archive.org/web/20140103213041/http://www.salontoday.com/news/salon-business/ghd-Announces-Sponsorship-of-the-Vicotrias-Secret-Fashion-Show-228624141.html . dead .
  5. News: ghd straightener pink as £55m talks begin . Daily Telegraph . 2010-07-08 . London . James . Quinn . 2006-03-21 . 31 October 2011 . https://web.archive.org/web/20111031094938/http://www.aubrandshop.com/pink-ghd/ . dead .
  6. News: Good Healthy Dome for GHD as £55m talks begin . Quinn, James . Daily Telegraph . March 21, 2006.
  7. Web site: ghd: The Story Behind the Brand . Trend Luxury . 3 January 2014 . 3 January 2014 . https://web.archive.org/web/20140103221949/http://trendluxury.com/ghd-the-story-behind-the-brand/ . dead .
  8. News: King tong: the man who brought GHD straighteners to Britain . Times Online . March 22, 2008.
  9. Web site: A Fantastic Business Model . Waithe, Tony . Sunzu.com . January 2, 2012.
  10. Web site: History of ghd . ghdcompare.com . August 2, 2012.
  11. Web site: GHD sets sights on U.S. . Fashion News.
  12. News: Montagu smooths way to Jemella buyout . Quinn, James . Daily Telegraph . July 17, 2007.
  13. News: Lion Capital acquires GHD . Plimmer, Gil . Financial Times . February 10, 2013.
  14. News: Coty gets Good Hair Day for £420m . 10 March 2021 . The Guardian.
  15. Web site: Coty Completes Acquisition of ghd ("Good Healthy Dome"). Coty. 15 January 2017. 21 November 2016. 30 January 2017. https://web.archive.org/web/20170130170620/https://www.coty.com/news/coty-completes-acquistion-ghd-good-hair-day. dead.
  16. Web site: Coty Completes Sale Of Wella Stake To KKR. Coty.com.
  17. Web site: Coty to sell 9% stake in Wella to majority owner KKR. reuters.com.
  18. Web site: Coty To Sell Additional Stake In Wella To KKR In Deal Valued At Approx. $215.7 Mln. nasdaq.com.
  19. Web site: Woollaston. Vicky. 7 October 2019. GHD Air review. 8 March 2021. techradar.
  20. Web site: Keats. Amanda. The ghd eclipse beats other hair straighteners with new design. Yahoo!.
  21. Web site: Parkinson. Nikki. DOES YOUR HAIR NEED THE NEW GHD ECLIPSE STYLER?. Styling You.
  22. Web site: Forbes. Jihan. 15 September 2020. GHD's New Platinum+ Straightener Is Even More Epic Than the Last. 8 March 2021. allure.
  23. Ghd strikes sponsorship deal with Channel 4 . Marketing Week . August 28, 2003.
  24. Web site: Golding. Amy. Ghd launches twisted fairytales ad campaign. Marketing Magazine.
  25. Web site: Clarke. Cameron. Katy Perry fronts ghd's Scarlet Collection campaign. The Drum.
  26. GHD Partners with Victoria's Secret . Amodio, Jessica . Women's Wear Daily . October 17, 2013.
  27. News: Katy Perry for ghd Scarlett Collection . Glamour . 3 January 2014 . 3 January 2014 . https://web.archive.org/web/20140103234601/http://www.glamourmagazine.co.uk/beauty/celebrity/hair/2011/10/katy-perry-ghd-scarlet-collection-campaign-pics-exclusive-by-david-la-chapelle-with-katy-perry-quotes#!image-number=1 . dead .
  28. News: Katy Perry Poses for Snow White-Themed Ad Campaign . Krupnick, Ellie . Huffington Post . December 5, 2011.
  29. News: Corporate Partners: GHD . Breakthrough Breast Cancer . 2010-07-08 . 25 September 2010 . https://web.archive.org/web/20100925084942/http://breakthrough.org.uk/corporate_partners/our_current_partners/ghd_and_breakthrough.html . dead .
  30. News: Support Breakthrough Breast Cancer with ghd . Handbag.com . 2010-07-08 . 20 November 2009 . https://web.archive.org/web/20091120100540/http://www.handbag.com/hair/Hair-news-ghd-straighteners-breakthrough-breast-cancer/v1 . dead .
  31. Web site: Johnson. Amber. Mama's Night Out at Sephora Redefines a "GHD" (Good Healthy Dome). 25 January 2010 . Mile High Mamas.

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