Amika Has A Big Year in 2023

Vegan, Brooklyn, NY-based hair care brand Amika says it is doubling down on deep and narrow distribution and top-performing segments going into 2024.

 

The brand has had quite a year. Apart from achieving B corporation status, it was named the most popular hair care brand in the US by Curl Centric and among the 25 indie brands to watch per NielsenIQ and Kline Group.

 

The brand also promoted president Chelsea Riggs to CEO. Riggs will be leading the business globally.

 Amika was acquired by Bansk Group in 2022 after it reached a combined $150 million in sales. 

 

According to Reuben Carranza, chief executive of the brand portfolio, which includes Ethique, Amika has grown 80% on revenue alone since the acquisition. This year alone, the brand is up 93% with profitability four times that rate.

 

The brand’s D2C business is up 30% with a specialty retail partnership with Sephora and the professional channel. In fact, Amika started a salon-first brand, a title it continues to uphold today. With its best-selling Perk Up Dry Shampoo, among other hero products, it’s doubling down on shampoo and conditioner which make up over half the hair care category. 

 

Per Circana data, growth in prestige hair reached 15% in the third quarter and is trending upward with retailers alike. Bestsellers like Amika’s Soulfood Nourishing Hair Mask, a top-performer in the prestige category, is reflected in the brand’s strong e-commerce business and in-store presence. 

 

The brand says it attributes its success to speaking to consumers about its products in a relatable way by leveraging TikTok and creating products that cater to hair treatments and “skinification” of the category as well as understanding the hair care journeys of the textured-hair consumer.  

 

Moving forward, Riggs said Amika’s goal is to shift consumer perception about clean beauty and sustainability so it’s top of mind when it comes to purchasing decisions. 

 

“We’ve done a lot of brand awareness campaigns this year with those things in mind to accelerate that perception of the brand as this more effective, professional, high-quality brand,” said Riggs. “All of these things combined have led to this brand taking off.”

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