The pandemic was bad news for Madison Reed in that it forced the company to temporarily close salons, but good news overall in that it led to an increase in at-home hair coloring and a request for in-home salon-quality alternatives via the brand’s online DTC. Business.
“This business has grown dramatically since before the pandemic, and we’ve retained many customers because of it,” Errett said. “We more than doubled our base because a lot of those people wouldn’t have tried us. A lot of them were like, ‘Holy Moly. I save thousands of dollars a year and my hair looks better. Additionally, Errett said, “There’s a definite sense of accomplishment when a woman does this” that inspires many to return to home coloring.
It also helped the brand gain a foothold in Ulta stores in 2019 just before the pandemic hit. By extension, this now also includes Ulta stores opened in Target stores.
what others say
“Madison Reed’s focus on providing the highest quality ingredients to the hair care market” is part of what recently attracted Sandbridge Capital to invest, said Ken Suslow, founder and managing partner of the company. , in a press release. “Madison Reed’s innovative omnichannel approach maximizes convenience while delivering a modern and compelling customer experience at every level.” The brand has also won Allure’s “Best of Beauty” awards each of the past two years and three of the past four years.
Madison Reed may have received a lot of money to help her open new salons, but that doesn’t mean one salon in one city at a time. Errett said brand growth and customer acquisition costs are much better when she’s “conquering,” that is, opening multiple brands in markets such as Los Angeles, New York and San. Francisco rather than one store each in many cities. And she said future expansion will likely focus on “NFL cities,” at least the larger ones, before, say Green Bay, Wisconsin; Buffalo, New York; Kansas City, Missouri; and Cincinnati. Data on online shopper concentration will also help guide expansion.