In a first, Olaplex, the leading haircare brand, is launching an eye serum. Called Lashbond, the serum will be available on the brand website, at Ulta Beauty and Sephora. The serum will be priced at $68.
This is the first time Olaplex is introducing a product outside its haircare category even though it uses the same bonding formula like its other products. This launch comes at a time when the brand is facing lawsuits that state that Olaplex products lead to hair fall. There has been a fall in demand for its products, with its Q4 sales down by 22%.
The new products should help in increasing sales over the long period. However, in 2023, sales from Lashbond might not be significant owing to its reducing demand for the main hair products. Olaplex might have to invest more in the marketing of Lashbond than its other products, as this new product is not a salon product.