OPI’s Parent Company Files for a US IPO at $2.9 Billion in Revenue

OPI built a following with bottles of color carrying names far more memorable than their shades alone. Now its parent company is trying to attract a different audience: Wall Street investors. Wella Company, the beauty group behind OPI, Wella Professionals and Clairol, has filed for a U.S. initial public offering after generating roughly $2.9 billion in annual revenue. Behind that filing is a business spanning salons, retail shelves and more than a century of beauty history.

Wella Is Preparing Its Market Debut

Wella intends to trade on the New York Stock Exchange under the ticker WELA, although some crucial details remain undecided publicly. The company has not announced the number of shares, price range or expected proceeds. IPO specialist Renaissance Capital estimates the offering could raise more than $500 million. Goldman Sachs, Bank of America, KKR and JPMorgan Chase are among those leading it.

There Is Growth Behind the Filing

The timing comes after Wella expanded its top line. Net revenue reached about $2.9 billion for the fiscal year ending June 30, 2026, up from $2.6 billion in 2024. Revenue grew at a compound annual rate of around 5% on a constant-currency basis over that period, while adjusted EBITDA climbed from $415 million to $522 million.

Wella Has Also Returned to Profit

Growth is only part of the pitch. Wella moved back into positive net income after previously reporting losses, although the reports provided here cite different figures and comparison periods. The company is simultaneously putting more money behind future products. Product-development investment rose from 5% of revenue in 2024 to 7% in 2026, supported by more than 300 scientists across six research centers and a portfolio exceeding 1,200 granted and pending patents.

Hair Remains the Billion-Dollar Engine

Consumers may know Wella through several brands, but professional hair is especially important to the business. Wella Professionals generated more than $1 billion in net revenue during 2026. The company says the brand has ranked first globally in salon hair color for six consecutive years. Overall, Wella operates in more than 100 countries and serves more than 250,000 hair and nail salons.

OPI Had a Very Unlikely Beginning

OPI’s origin story starts not at a beauty counter but with dental supplies. Co-founder Suzi Weiss-Fischmann recalled that nail technicians were buying products from the small Los Angeles dental-supply company where she worked with her brother-in-law. They realized dentures and artificial nail extensions shared similar chemistry. After developing their own product, they delivered powder, liquid and primer bundled together with a rubber band to local salons.

Nail Polish Became a Personality Business

OPI later found another opportunity in nail color. Weiss-Fischmann believed generic names such as “Red No. 4” made existing polish feel forgettable, so OPI embraced distinctive names and collections instead. Its first collection included 30 shades, among them Malaga Wine, Alpine Snow and Kyoto Pearl. Hollywood collaborations later helped the company connect nail color with entertainment, fashion and broader consumer culture rather than treating polish as simply another cosmetic.

Wella Has Changed Hands Along the Way

The corporate path to this IPO has been considerably less colorful. Coty acquired Wella in 2015 as part of its purchase of Procter & Gamble’s beauty business. KKR then acquired a majority stake from Coty in 2020. Coty sold its remaining interest to KKR for $750 million last year, while retaining rights to 45% of proceeds from a future sale or IPO after KKR’s preferred return is satisfied.

Going Public Could Help Reshape the Balance Sheet

The IPO is not simply a ceremonial return to public markets. Wella says proceeds will be used for purposes including debt repayment and tax consequences related to restructuring. That financial housekeeping comes as the company continues spending on research, new products and brand-building, including efforts to raise Wella Professionals’ profile through partnerships and events such as its activation around F1 ACADEMY at the 2026 British Grand Prix.

Investors Still Need to Put a Price on Wella

The filing opens the door to Wall Street, but the most revealing stage comes next. Wella still needs to disclose its proposed share price and offering size, numbers that will show what valuation it believes investors will support. For a company that stretches from an 1880 German hair business to OPI’s improvised salon kits and today’s billion-dollar brands, the IPO will provide a new test: how public markets value its next chapter.