The Beauty Industry Group (BIG), a leading name in the hair market, has appointed Robert Schaeffler as its new CEO, effective August 28. Schaeffler, who previously led the hair care brand Vegamour, succeeds Derrick Porter, the company’s longtime CEO. Porter, who has served for 18 years, will transition to BIG’s board of directors.
Founded in 2004, BIG was acquired by the private equity firm L Catterton in 2021. The company owns several prominent hair extensions and hair care brands, including Halocouture, Bellami, and Beauty Works. These brands are distributed across more than 1,300 stores in the United States and supply over 30,000 salons in 165 countries.
Schaeffler has outlined his top priorities as increasing the penetration, awareness, and uptake of hair extensions, which he believes hold significant growth potential. Currently, the market penetration for hair extensions stands at just 3 percent, indicating ample room for expansion. Schaeffler, who has nearly 20 years of experience in the hair industry, emphasized the demand for thicker, fuller hair, which extensions can readily provide.
He also highlighted the role of social media platforms like TikTok in driving consumer interest, as transformation videos by stylists garner millions of views. Strengthening relationships with stylists, who are crucial to the business’s credibility and distribution, will be a key focus for Schaeffler. He aims to enhance BIG’s brand and marketing efforts, positioning stylists as central to the company’s growth strategy.
Avik Pramanik, a partner at L Catterton, acknowledged the growth the category has already experienced as consumer awareness increases. He mentioned that BIG is exploring new opportunities within the hair extensions category and adjacent markets, while also expanding its supply chain to capitalize on what he described as a “massive whitespace.”
