Dive Brief:
- DTC hair care brand Hairstory has spent the past several months building out its executive suite, naming a new CEO, chief marketing officer, vice president of sales and design director, per a company press release.
- Harley Butler in October was named CEO, succeeding co-founder Eli Halliwell, who stepped down from the role. Other appointees include Dina Rosenbloom as chief marketing officer, Larissa Rhodes as vice president of sales and Stephanie Savidge as design director. The CMO and sales positions are both new, while Savidge succeeds Alexander Brebner as design director.
- The changes follow a three-year run of significant revenue growth for the brand.
Dive Insight:
Hairstory has ushered in fresh talent as it continues to grow.
Butler takes the helm from co-founder Halliwell, who remains as executive chairman. Butler has more than two decades of leadership experience with such companies as Target, Adobe, Prezi, Cisco and Flip Video. Under Butler’s leadership, Hairstory plans to “double down” on its mission to change the way people wash their hair.
The Hairstory CEO change follows a recent trend of company founders stepping aside in order to let more experienced personnel lead the way to growth. Brooklinen’s founder earlier this month announced he would step down as CEO, while remaining an active board member. Glossier, Lively and Casper have all experienced similar C-suite moves the past couple of years.
Hairstory has brought on other retail veterans with experience in the beauty space. Rosenbloom, who joined as the brand’s chief marketer last month, is a beauty industry veteran who recently served as senior vice president at Creed Fragrances North America. Both Savidge and Rhodes joined Hairstory in the spring: Savidge has over a decade of experience in luxury beauty, working for the L'Oréal Luxe Division and Unilever Prestige, while Rhodes was vice president of professional sales at Olaplex the past three years.
Hairstory, which was founded in 2015, is known for its New Wash product, which is formulated as a detergent-free shampoo that uses natural ingredients.
The appointments coincide with strong growth by Hairstory over the past three years. The brand has increased revenue by 190% and its employee count by 50% to its current number of 32. Revenue for 2023 is projected at $30 million to $50 million, per a brand representative.
Hairstory currently has 12 products in its collection, including hair balm and hair oil. Aside from selling directly to consumers on its website, the brand recently launched on Amazon.
The brand is also available through a network of hairstylists, who provide their clients with special pricing through a referral link. Hairstylists then make a 25% commission on their sales, per the company.
"Hairstory's commitment to empowering creatives and delivering exceptional results positions each strategic hire as a driving force in the organization," Butler said in a statement. "We look forward to continuing to lead the no-shampoo movement, expanding our hairdresser network, and furthering our sustainability efforts, particularly around product and packaging innovation."
