Former Olaplex CEO JuE Wong has a new job.
The executive, who most recently served as CEO of Olaplex Holdings, will assume the same role at Performance Beauty Group, effective immediately. The group is owned by Texas-based private equity firm Gage Capital and includes Grande Cosmetics, Bondi Boost, Babe Original, Flutter Habit, Lily Lashes, Velor and Nutralux. .
A company statement said: “Mr Wong will lead the group’s continued growth as a leader in the eyelash, eyebrow, eye, lip and hair categories. This gives us a clear competitive advantage.”
Wong replaces Michael Dewey, who was unsure of his next move.
“He will lead PBG’s brand portfolio by increasing brand relevance with end consumers, deepening relationships with brand partners, and applying a technology-first mindset to accelerate growth and scale,” Wong said in a statement. I’m excited to be able to do it.”
Mr. Wong has served as CEO many times (including at Moroccanoil, StriVectin, and Astral Brands), but is perhaps best known for his tenure at Olaplex. During that time, she led the company through an initial public offering, raising approximately $1.8 billion and valuing the company at approximately $16 billion.
Wong left Olaplex last year amid a downturn in business due to increased competition in the bond formation space, litigation and declining demand in the professional channel. Former Supergoop CEO Amanda Baldwin now helms the brand.
“(Wong) is an exceptional talent and we are confident that her experience will help further strengthen PBG’s leadership in our key categories,” James Jackson, a partner at Gage Capital, said in a statement. “There is,” he said. We look forward to what the future holds under her leadership. ”
