Wella Company files for US IPO as revenue hits USD 2.94B
The filing signals continued private equity confidence in beauty and personal care as an attractive sector for public listings, particularly for businesses with strong cash flows and global brand equity.
USA – Wella Company has filed for an initial public offering (IPO) in the United States, marking a strategic exit move by private equity owner KKR.
This move comes as the company’s hair and nail care business returns to profitability and scales revenue to USD 2.94 billion in its latest fiscal year that ended June 30, 2026.
The filing positions Wella to tap into renewed investor enthusiasm for beauty and personal care brands, following KKR’s multi-year build-up of full ownership and operational turnaround of the business.
KKR first entered Wella in 2020, acquiring a 60% stake from Coty for USD 4.3 billion including debt, and has since increased its control before pursuing a public listing.
In December 2025, KKR completed its buyout by purchasing Coty’s remaining 25.8% stake, a transaction that provided Coty with D 750 million in upfront cash and cleared the capital structure ahead of the IPO.
By consolidating ownership, KKR has aligned Wella’s governance and strategy for a market debut while seeking to capitalize on stronger investor appetite for beauty assets.
Meanwhile, Wella recently reported a more than 9% year-over-year revenue increase for the financial year ended June 30, 2026, closing at USD 2.94 billion.
The company also swung back to profitability, posting net income of USD 62.3 million versus a USD 8.7 million loss in 2025, underscoring improved earnings momentum ahead of the offering.
This return to profit, coupled with double-digit revenue growth, strengthens Wella’s narrative to public market investors focused on scalable, cash-generative beauty platforms.
The IPO is expected to provide Wella with public market currency for further expansion while offering KKR a partial or full realization of its investment, depending on the final offering structure.
Wella’s business spans professional and retail hair care as well as nail care, with a brand lineup that includes OPI, Clairol, Sebastian Professional, ghd (Good Hair Day), and Nioxin.
The group operates in more than 100 countries, giving it broad geographic diversification and exposure to both salon professionals and at-home consumers.
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