Olaplex products headed to Ulta in January 2022

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Olaplex Holdings Inc. OLPX, +1.52% announced Monday that its line of premium hair products will be in Ulta Beauty Inc. ULTA, +0.47% stores and on the retailer’s e-commerce site starting January 2022. The two companies previously had a salon partnership, with Olaplex products also becoming available for sale at the front of Ulta salons in January. Guidance Olaplex disclosed on Nov. 10 took this Ulta expansion into account. “While the market had already viewed this announcement as a ‘when’ rather an ‘if,’ we expect the incremental distribution to be a clear growth driver in FY22 and beyond for both Olaplex and Ulta,” wrote Raymond James. “In our view, full distribution could add a low single-digit percent of sales to Ulta and a low double-digit percent of sales to Olaplex.” Raymond James rates Olaplex stock strong buy and Ulta shares outperform. Olaplex stock was up 2% on Monday. Ulta shares rose 1.1% on Monday and have run up more than 40% for the year to date. The S&P 500 index SPX, +1.32% is up 24.2% for 2021 so far.

This article was originally published by Marketwatch.com. Read the original article here.

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