Dive Brief:
- Building on its expanding C-suite, DTC hair color brand Madison Reed has named a chief revenue officer in Angela Jaskolski.
- In the newly created position, Jaskolski will lead the company’s hair color bar business and e-commerce revenue operations while also building new revenue streams, per a company press release.
- Jaskolski reports to the brand’s founder and CEO Amy Errett.
Dive Insight:
The appointment of Jaskolski comes as Madison Reed has been filling out its C-suite with new members.
She has spent two decades in the retail and service sector holding various leadership roles, including stints with Aveda and Self Esteem Brands, the parent company of Anytime Fitness and Waxing the City. She has also worked at Thrive Pet Healthcare, where she served as COO, as well as the Regis Corporation as its vice president of operations.
"Angela's rich experience running large-scale service businesses in the beauty industry, paired with her deep admiration and passion for the stylist community aligns with the mission of Madison Reed and our future goals,” Errett said in a statement.
Jaskolski joins Madison Reed as the brand continues to expand on its omnichannel platforms, which consist of its DTC website, company-owned hair color bars and wholesale partnerships with Ulta Beauty and Amazon.
"This is an opportunity to lead a scaling disruptor brand with a focus on continuing to promote a superior employee and customer experience,” Jaskolski said in a statement. “Amy Errett is an unstoppable leader and a true embodiment of the Madison Reed brand, and I am thrilled to work alongside her as she continues to change the lives of her team, stylists, and customers."
Madison Reed was founded in 2013 and opened its first hair color bar in 2017 in New York City. The brand has raised nearly $290 million through several funding rounds, according to Crunchbase, in large part to expand its physical footprint. The company has increased the number of brick-and-mortar bar locations to 87, with plans to reach close to 100 by the end of 2024. The hair color business is the fastest growing segment of Madison Reed’s business, according to the company.
Earlier this year, the company launched a new tiered version of its Limitless Membership loyalty program. The program offers customers discounts and free services based on their membership level.
Madison Reed has built its business around formulas that never use ingredients like ammonia, resorcinol and paraphenylenediamine. The brand’s coloring products include conditioning and strengthening ingredients like argan oil and ginseng root extract. The brand offers over 55 shades of color allowing for a personalized experience.
The global hair color market size continues to grow, according to recent data from Statista. The market was valued at over $21 billion in 2020 and is projected to reach $36 billion by 2027.
