OPI Products,branded asO·P·I,is an Americannail polishmanufacturer headquartered inCalabasas,Californiaand a subsidiary ofWella Company
 | |
| Company type | Subsidiary |
|---|---|
| Founded | 1981 |
| Headquarters | Calabasas, California |
Key people |
|
| Products | Nail polish |
Number of employees | 500 + |
| Parent | Wella Company |
| Website | opi.com |
History
editOPI, originally namedOdontorium Products Inc.,was a small dental supply company purchased by George Schaeffer in 1981.[1]Shortly after taking over the company, Schaeffer was joined by Hungarian-born[2]Suzi Weiss-Fischmann,OPI's Executive Vice President and Artistic Director. Schaeffer and Weiss-Fischmann partnered with R. Eric Montgomery, a biochemist, and created an acrylic system that Schaeffer sold door-to-door to local nail salons. They closed the dental sales and focused entirely on nail products changing the name to OPI Products Inc.
In 1989, OPI expanded its portfolio to nail lacquers and later other products. In 2003, OPI created aLegally Blonde 2collection that was also featured in the film.[3]Collaborations that have followed includeFord Mustang,the 2010 filmAlice in Wonderland,[4]and Dell (2009).[5]
In 2003, OPI launched a nail polish line for dogs called Pawlish that received mixed reviews.[6]In 2007, after pressure from the EPA and the organization Campaign for Safe Cosmetics, OPI reformulated its nail lacquers and eliminated chemicalsDBP(dibutyl phthalate), formaldehyde and toluene.[7]
In 2010, OPI was acquired byCoty, Inc.[8]In 2014, Coty appointed Mary van Praag as General Manager of OPI.[9]Van Praag replaced John Heffner, the now CEO of Drybar.[10]
On December 1, 2020,Cotycompleted sale ofWella,Clairol,OPI andghdbrands stake toKKRfor $2.5bn in cash whilst retaining 40% stake in the standalone company.[11]On October 1, 2021,Cotyannounced that it would sell approximately 9% of its shares toKKRfor $426.5 million. The deal cutsCoty's stake inWella,Clairol,OPI andghdbrands to around 30.6%.[12]
On November 8, 2021,Cotyhas agreed to sell an approximate 4.7% stake inWellatoKKRin exchange for the redemption of approximately 56% of KKR's remaining convertible preferred shares inCoty.The deal reducesCoty's total shareholding inWella,Clairol,OPI andghdbrands to approximately 25.9%.KKRwill continue to have a 2.4% ownership stake in Coty on an as-converted basis.[13]
References
edit- ^"Behind The Brand: OPI".The Beauty Informer.Retrieved2020-08-24.
- ^"Meet the Hungarian Jewish woman behind the world's largest luxury nail brand".Jewish News.Aug 29, 2019.Retrieved2019-11-01.
- ^Lu-Lien Tan, Cheryl(2003-07-06). "Clothes Encounters; As the fashion world grows more aggressive about marketing clothes in movies, some wonder if hot films are beginning to resemble stylish ads".The Baltimore Sun.p. 1.N.
- ^Fierro, Dina (2009-12-24)."OPI goes through the looking glass".The Gloss. Archived fromthe originalon 2011-07-17.Retrieved2010-12-10.
- ^"Industry Leaders Dell and OPI Partner to Deliver a New, Polished Laptop Collection".Reuters. 2009-10-07. Archived fromthe originalon 2016-04-14.Retrieved2010-12-10.
- ^Donaldson-Evans, Catherine (2003-09-23)."Pups Panting for" Pawlished "Nails".Fox News.Retrieved2010-12-20.
- ^/statement
- ^"joint statement"(PDF).Archived fromthe original(PDF)on 2010-12-14.Retrieved2010-12-28.
- ^Moratto, Anne."OPI Founder and CEO George Schaeffer to Step Down".Modern Salon.
- ^Moratto, Anne."OPI Founder and CEO George Schaeffer to Step Down".Modern Salon.
- ^"Coty Completes Sale Of Wella Stake To KKR".Coty.com.
- ^"Coty to sell 9% stake in Wella to majority owner KKR".reuters.com.
- ^"Coty To Sell Additional Stake In Wella To KKR In Deal Valued At Approx. $215.7 Mln".nasdaq.com.