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Jul 19, 2023Hair Thinning, Care Brand Boldify Primes for Expansion
Jun 16, 2023Boldify, the Amazon-native hair care business, is focusing on expansion.
The brand has rebranded and relaunched all of its products this month, including its hair fibers and styling products, which are currently priced at $14 to $39. Though the business started on Amazon, it is also eyeing beauty’s traditional channels for its next phase.
Mike Viskovich, the brand’s founder and chief executive officer, reverse-engineered the brand in 2016 based on concerns and benefits with high searches — yet few products meeting them — on Amazon. The current assortment focuses on hair thickening, and was also informed by his own experiences with thinning hair. “I was SEO-focused on opportunities to develop our products around, and ingredient-focused solutions,” Viskovich said. “At that time, there was a lot less available in terms of solutions to meet those demands.”
That includes the brand’s bestselling hair fibers, a solution for thinning hair and receding hairlines. The brand has since expanded to encompass traditional hair care like shampoos, conditioners and stylers. Industry sources said the business is at around $15 million in sales on Amazon, though the rebrand could put annual sales around $23 million.
Amazon also now comprises 12 percent of the prestige beauty market with more than 100 million monthly customers, as reported. Boldify is using that traction to dive further into the hair care category, which grew 13 percent in the first half of 2023, per Circana.
“We’re international on Amazon and have a huge range of customers,” said Valeriya Volkov, director of brand strategy and product marketing, Boldify. “We built a business, now we need to build a brand identity and deepen our connection with our customers and with the hair care category itself.”
Boldify is kicking off an influencer affiliate program in addition to focusing on sustainability and giveback programming. On the professional side, the brand is also creating a program for hair stylists.
Most notably, those plans also include retail expansion, on the docket for next year. “We’re looking for another sales channel alongside Amazon to scale up even further,” Viskovich said. “We need to mature as a brand. It’s a mixture of still using Amazon to drive our new product development, but we’re also thinking about trying to find our own customers.”
Scalp care products are also in the works, Volkov said. “It’ll be table-stakes products, a dry shampoo, a scalp scrub and an incredible active story that addresses scalp health, as well as building our our enhanced range, which is inclusive of our fibers and our hairline powder, which has resonated with a lot of customers.”
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