Investment firm KKR is making preparations to take Wella Company public in the United States as early as this year, sources familiar with the process told reporters. The plan could value the global beauty and professional haircare company at significantly more than the $4.3 billion valuation attached when KKR first acquired a stake, the sources said.
Those sources, who asked not to be identified because the discussions are private and at an early stage, said Wella has engaged with major investment banks for the potential listing, including Bank of America and Goldman Sachs. KKR, Wella, Bank of America and Goldman Sachs declined to comment on the matter.
Market conditions for consumer company listings have looked more positive after several slower years. At least two consumer-focused firms are scheduled to go public later this week: organic children’s food maker Once Upon a Farm and furniture retailer Bob’s Discount Furniture. Observers cited by the sources said the backdrop for beauty has held up well, with consumers continuing to spend on personal care items.
KKR first acquired a majority stake in Wella in 2020 when the beauty conglomerate Coty carved the business out as a standalone company. That initial transaction left Wella valued at $4.3 billion, including debt, and gave KKR a 60% ownership position.
Over subsequent years KKR increased its stake and in December 2025 purchased the remaining 25.8% of Wella for an upfront cash payment of $750 million. At the time of that acquisition, Coty said it would be entitled to 45% of any proceeds from a subsequent sale or an initial public offering of Wella once KKR’s preferred return had been satisfied.
Wella’s portfolio includes professional and consumer haircare brands such as Briogeo, ghd and Clairol, along with the OPI nail polish line. The company employs more than 6,000 people and maintains primary offices in Geneva, Switzerland; New York City; London; and Calabasas, California. It also operates a substantial research and development facility in Darmstadt, Germany.
The timeline, valuation outcome and final decision to list remain subject to change as KKR and its advisers progress through preparatory work and gauge market appetite. The engagement of established investment banks suggests KKR is advancing formal steps commonly taken ahead of a public offering, though the parties involved have not provided public confirmation.
Context and next steps
- Preparatory engagement with Bank of America and Goldman Sachs indicates early-stage IPO planning.
- Consumer and beauty demand trends cited by sources support interest in a public listing for Wella.
- Final timing and valuation will depend on market conditions and KKR’s internal decisions.