Dive Brief:
- After about seven years in the role, Daniel Hodgdon has stepped down as CEO of hair care brand Vegamour, according to a LinkedIn post.
- Hodgdon — who founded the digitally native brand in 2016 — will stay on Vegamour’s board of directors and serve as a senior advisor to the brand.
- Robert Schaeffler has been appointed as Vegamour’s new chief executive officer. Schaeffler joined the company in October as president, according to his LinkedIn profile, and will continue to take on the position's responsibilities in addition to being the CEO. However, Vegamour will no longer have a president title at the company, according to details emailed to Retail Dive.
Dive Insight:
Stepping aside from the day-to-day business, Hodgdon reflected on how the brand has been able to the hair care industry.
“I’m so proud of the company that VEGAMOUR is today with products that give our customers hair they never thought they could have," Hodgdon said in a statement shared with Retail Dive. "With Robert’s understanding of the business, I’m confident that now is the right time for me to take a step back from the day-to-day business. We have an incredible team and award-winning products, and I’m excited for everything that VEGAMOUR will continue to achieve.”
Schaeffler is also a board member for the brand Freck Beauty. Prior to working at Vegamour, the executive served as CEO of the hair care brand Deva Curl, according to LinkedIn.
The hair care company raised $80 million in funding from growth equity firm General Atlantic in April 2021, with plans to use the investment to growth its e-commerce business and product expansion.
While Vegamour operates its own direct-to-consumer e-commerce site, the brand started selling its Vegamour Gro line on Sephora’s website in June 2021. The brand later entered over 400 Sephora stores in May of 2022. Vegamour also announced a strategic partnership with actress Nicole Kidman, who was named a brand investor.
The hair care brand sells a variety of products including growth serums and shampoo. Vegamour also sells products specifically for lashes and eyebrows.
