As competition in the hair tools market continues to heat up, GHD has revised its game plan to ensure it remains a power player in the bustling category.
The 23-year-old British hair tech brand is facing its toughest level of in-category rivalry to date, with challengers such as Dyson, Zuvi and Shark Beauty innovating in the space after spying a rise in consumer demand.
Currently, the global hair styling tool market is forecasted to grow at a CAGR of 4.9% to reach US$38.4bn by 2030, found market research company SkyQuest.
GHD’s refined direction will focus on cementing its reputation as the leading styler brand, while also entering untapped markets, launching products in flourishing sub categories and striving to be the first-to-market with new and unexpected technology.
The legacy hair tool brand has already doubled its R&D spend at its research laboratory in Cambridge, UK, over the past four years and is set to double it again in the next four years to drive forward this goal.
It could be one of the biggest breakthrough launches in the history of GHD
“I am a strong believer in competition – it keeps us sharp – but I am not dependent on growing quicker because of rivals to be honest,” says GHD CEO Jeroen Temmerman.
“It is healthy to look and learn from the competition so we can do better, but the truth is we are really challenged as a company because the consumer wants more value now [from devices] than ever before.
“And if you do not innovate, or you make a mistake when doing so, they will punish you and be vocal about it.”
GHD’s direct-to-consumer website traffic highlights this change in consumer buying behaviour over the past two years, which has influenced its new strategy.
“We see that people are now surfing for us and getting information, but then wait, because the consideration phase is now much more diligent than before,” explains Temmerman.
“So we have to make sure that we are still uniquely positioned during this cost of living crisis, by remaining a significant company in the beauty tech space.”
GHD is aiming for global hair market dominance with new tech
Blowing away the competition
Although GHD has a strong straightener (known as stylers) portfolio, the brand now wants to accelerate its presence in
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