Yesterday, JuE Wong, the former CEO of Olaplex, announced that she has take over the CEO of Performance Beauty Group (PBG), effective immediately. PBG, owned by Texas-based private equity firm Gauge Capital, boasts a diverse portfolio that includes brands such as Grande Cosmetics, Bondi Boost, Babe Original, Flutter Habit, Lilly Lashes, Velour, and Nutraluxe.
In a company statement, Wong expressed her enthusiasm for leading PBG’s growth in key beauty categories, including lashes, brows, eyes, lips, and hair. She aims to enhance brand relevance, deepen partnerships, and leverage technology to accelerate growth. Wong takes over from Michael Dewey, who has yet to announce his next move.
Wong’s resume includes leadership roles at Moroccanoil, StriVectin, and Astral Brands, but she is most renowned for her impactful tenure at Olaplex. Under her leadership, the company went public, raising approximately $1.8 billion and achieving a valuation of around $16 billion. Despite her success, Wong left Olaplex amid challenges, including increased competition, a lawsuit, and declining demand in the professional market, with Amanda Baldwin of Supergoop now at the helm of Olaplex.
James Jackson, a partner at Gauge Capital, praised Wong as an exceptional talent, confident that her experience will enhance PBG’s position in the beauty sector.
