Prelude Growth Partners Invests in DpHue
Prelude Growth Partners has invested in DpHue, a hair brand that specializes in keeping color fresh between salon visits.
Terms of the deal were not disclosed, but at-home hair color and care has been growing throughout the pandemic.
“Growth has definitely been exponential,” said Beth Spruance Bennett, chief executive officer of DpHue. “Our value proposition has never been more relevant or compelling.”
DpHue is said to be on track to do about $25 million in retail sales by the end of the year. Popular products include the brand’s Color Touch-Up Spray, $28 and its hero sku, the Apple Cider Vinegar Rinse; $35. It has also seen success on its collaborations with reality TV star and influencer Kristin Cavallari, including the Kristin Cavallari Blonding Brush and Sun & City Mist.
DpHue was founded by Donna Pohlad, who who wanted a more convenient root touch-up option than returning to the salon chair ever six weeks. Justin Anderson, a celebrity hair colorist — as well as Pohlad’s longtime stylist — is the cofounder.
“Our vision [with the investment] is to help build out our team and invest behind marketing and innovation to drive growth and leverage this moment in time,” said Pohlad. “We’ve had a lot of stars line up to drive our business forward [this year].
Pohlad added that DpHue is looking at international expansion opportunities for 2021.
The brand is sold at Ulta Beauty, Sephora, on Amazon and Dphue.com. While it is not sold in salons, DpHue has an app where hairstylists can sell products and gain commission. During the pandemic, DpHue increased its commission rates from 35 to 50 percent.
Though many salons have opened back up across the country after the initial period of lockdowns, DpHue president and chief operating officer Martin Okner said the brand is seeing a high repeat-purchase rate. “We’re seeing customers who have tried the ACV Rinse or Root Touch-Up Kit [which saw sales balloon during the pandemic] come back — those products have been on-ramps.”
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