IPO · Consumer Staples · Proposed listing on NYSE
Wella IPO: how the business works
Wella sells salon hair color, Clairol home dye, OPI nail polish and ghd hair tools in more than 100 countries, with $2,939.1M of revenue in the year to Jun 30, 2026.
The Wella Company · New York, New York
Based on the amended registration statement (Form S-1/A) dated .
The company has publicly filed its registration statement (Form S-1 or F-1) with the SEC. No price range is set yet.
Last updated · Reviewed by Cityfort Research on
- Revenue, FY2026 (year to Jun 30, 2026)
- $2,939.1M
- Net income, FY2026 (all holders)
- $62.3M
- Net income to the parent group, FY2026
- $2.7M
- Term loan to be repaid, Jun 30, 2026
- $2,292.2M
- Proposed NYSE ticker
- WELA
01 · The business in one line
What does Wella do?
Wella sells hair and nail products to salons and shops; it keeps $68 of each $100 of sales after product costs, and spends most of that on selling and interest.
- In FY2026 (year to Jun 30, 2026), salon and home hair products and OPI nails brought in $2,480.2M, 84.4% of revenue; ghd hair tools brought in $458.9M.
- Of FY2026's $62.3M net income, $59.6M belonged to holders of shares in subsidiaries, leaving $2.7M for the parent group.
02 · The offer
What is the Wella IPO?
- New shares sold by the company
- Not yet in the filing
- To list on
- NYSE
- Proposed ticker
- WELA
- Lock-up on existing holders
- 180 days
- New shares only: no existing stockholder sells in the offering, per the S-1/A. The money raised goes to Wella, not to selling stockholders; part repays Facility B, where a KKR affiliate is a lender.
- The share count, price range and amount raised are all blank in the S-1/A, so this page shows no offering size or market value.
- With new bank loans, the money repays all of the $2,292.2M Facility B term loan. A KKR affiliate is one of those lenders.
- In connection with the offering, preference shares in the UK parent group (A1 and B) are exchanged for Wella common stock at their liquidation preference ÷ the IPO price; its ordinary shares get only any equity value left over (the "WINS Exchange").
- Wella has applied to list on the New York Stock Exchange under the ticker "WELA".
Wella, its officers and directors and substantially all existing stockholders (including shares from the WINS Exchange and WOW Issuance) agree not to sell for 180 days; the underwriters' representatives may release shares early.
Share classes and votes
- Underwriters
- 21 named in the S-1 (lead: Goldman Sachs & Co. LLC, BofA Securities, Inc.)
- Underwriter conflict of interest
- KKR funds own more than 10% of Wella and KKR Capital Markets is one of the underwriters, so the offering follows FINRA Rule 5121. Goldman Sachs & Co. LLC acts as qualified independent underwriter and gets no extra fee for it, the S-1/A says.
- Controlled company
- The KKR Stockholders will hold more than 50% of the votes, so Wella will be a "controlled company" under NYSE rules. It says it intends to use the exemptions from a majority-independent board and from independent compensation and nominating committees.
- Lead underwriters
- Goldman Sachs & Co. LLC, BofA Securities, Inc.
- Transfer agent
- Computershare Trust Company, N.A.
03 · Where the new money goes
What will Wella do with the money it raises?
- Repay all of Facility B, Wella's term loan ($2,292.2M owed on Jun 30, 2026), together with money borrowed under a new loan agreement.The S-1/A leaves blank how much of the offering money goes to this. A KKR affiliate is one of the Facility B lenders and will receive its share of principal, interest and fees (amount blank).Goes to an affiliate of the company, as the S-1 states.Amount not fixed
- Pay tax withholding on shares and share awards (RSUs) given to managers and employees at the IPO: the WINS Exchange, IPO Equity Grants and the WOW Issuance.The approximate amount is blank in the S-1/A.Amount not fixed
A KKR affiliate is one of the Facility B lenders. The fee for ending KKR's monitoring agreement will be paid from cash on hand, not from the offering money; its amount is blank in the S-1/A.
Only the shares the company sells raise money for it; money from shares sold by existing stockholders goes to them.
04 · What it sells
What does Wella sell?
Professional Hair (Wella Professionals, Sebastian Professional, Nioxin)
Hair color, care and styling products used in salons. $1,635.6M of FY2026 revenue, 55.6% of the total; Wella Professionals alone passed $1 billion.
Retail Hair (Clairol, Wella / Koleston)
Home hair dye sold in shops and online. $593.4M of FY2026 revenue. The company ranks #2 in US and UK retail hair color (2025), per industry data from Euromonitor as cited in the S-1/A.
Nail (OPI)
Nail polish and nail care sold to salons and shops. $231.7M of FY2026 revenue, up 2.6%.
Styling Tools (ghd)
Hair straighteners, dryers and curlers. $478.5M of FY2026 revenue, up 13.5%; the S-1/A says ghd holds more than 300 granted patents.
Think of it like this
Think of a paint maker that also teaches the painters: Wella sells color to salons and trains hairdressers to use it.
What it does
- Does: Makes about 60% of its hair and nail products in its own 3 factories, in Germany, Mexico and Thailand.
- Does: Sells directly to more than 65,000 salons through more than 750 sales reps, and employs about 300 educators who train hairdressers.
- Does: Runs 6 research centres with more than 300 scientists.
What it does not do
- Does not: Does not make ghd tools itself: outside manufacturers make all of them.
- Does not: Is leaving the hair business in China (the "China Exit Program", started Jun 30, 2025, due to finish in FY2027).
05 · Who pays it
Who pays Wella?
Salons and hairdressers
Not disclosed
Buy professional color, care and nail products. Wella serves more than 250,000 salons; salon contracts are usually yearly, 3 to 5 years for large chains.
Retailers and online stores
Not disclosed
Beauty retailers, e-commerce platforms (Amazon anchors Wella's online sales) and food, drug and mass stores sell Clairol, Koleston, OPI and ghd to shoppers.
Exclusive distributors
Not disclosed
In some countries, outside distributors resell Wella's products to salons. They handle 12% of the hair and nail business.
How spread out the customers are
3 customers together made up 19% of Wella's FY2026 revenue, though none passed 10% in any of the last 3 years. The S-1/A does not name them.
06 · How the money flows · FY2026
How does money flow through Wella?
Money in
- Net revenues$2.9B
The company
Wella
$2.9B came in
Money out
- Cost of sales (making and buying products)$928M
- Selling, marketing, staff and offices (SG&A)$1.6B
- Amortization of intangible assets$51.4M
- Brand write-downs, restructuring and other costs$131M
- Interest and other financing costs$160M
- Tax$20.6M
- Belongs to holders of shares in subsidiaries$59.6M
- Net income to the parent group$2.7M
- Customers paid Wella $2,939.1M in FY2026 (year to Jun 30, 2026).
- Making and buying products cost $927.8M; selling, marketing, staff and offices cost $1,585.1M. Depreciation sits inside these two lines.
- Brand write-downs, restructuring, other costs and amortization took $182.8M. Interest and other financing costs took $160.4M, and tax $20.6M.
- That left $62.3M of net income. $59.6M of it belongs to holders of shares in subsidiaries, leaving $2.7M for the parent group.
07 · Where the money goes · FY2026
Where does $100 of Wella's money go?
Wella · FY2026
Receipt for every $100
| Cost of sales | $31.6 |
|---|---|
| Selling, marketing, staff and offices | $53.9 |
| Amortization | $1.7 |
| Write-downs, restructuring, other | $4.5 |
| Interest and financing | $5.5 |
| Tax | $0.7 |
| To holders of subsidiary shares | $2.0 |
| Kept by the parent group | $0.1 |
| Total | $100 |
Each line = amount ÷ total money in × 100. Lines may not add to exactly $100 because of rounding.
08 · What it needs to run
What does Wella need to run?
Factories and suppliers
3 owned factories make about 60% of hair and nail products; more than 40 outside manufacturers make the rest, and all ghd tools.
Sales reps and educators
About 10% of revenue goes on the salesforce and about 3% on educators who train hairdressers, the S-1/A says.
Research and patents
More than 300 scientists in 6 centres; about 730 issued and 520 pending patents, expiring between 2026 and 2045.
People
About 6,000 full-time and 430 part-time staff in 32 countries on Jun 30, 2026. About 30% are covered by collective bargaining agreements (union contracts).
09 · Why it makes money
Why does Wella make money?
Hairdressers sway what people buy, so Wella sells to salons and trains them, and that pull helps its shop brands.
The S-1/A says, citing consumer research the company commissioned, that hair professionals are consumers' #1 influence on purchases. Wella keeps $68.4 of each $100 of sales after product costs. Selling, marketing and staff ($53.9) and interest then take most of what is left.
Operating income per $100 of revenue
$1.8$8.3
FY2024 to FY2026
- Wella sells color and care products to salons
- Its educators train hairdressers to use them
- Hairdressers recommend products to their clients
- Clients buy Wella, Clairol, OPI and ghd in shops and online
- Sales pay for more reps, training and new products
↺ Step 5 feeds back into step 1.
10 · Business segments · FY2026
Which businesses make up Wella?
Hair & Nail
84%Salon and home hair color, hair care and OPI nail products. Revenue grew 8.3% in FY2026.
Revenue $2.5B
Beauty Tech
16%ghd hair tools. Revenue grew 14.3% in FY2026. The S-1/A's separate "Styling Tools" category ($478.5M) is a different figure, and the filing does not reconcile the two.
Revenue $459M
How the mix changed
- Hair & Nail
- Beauty Tech
Revenue by segment, FY2024 to FY2026.
US$ · Source: The Wella Company: Form S-1/A (Amendment No. 1) registration statement and preliminary prospectus (no price range)
See the numbers
11 · Where it sells · FY2026
Where does Wella sell?
- United States25%
- Germany11%
- United Kingdom11%
- Other countries53%
12 · Competitors and what protects it
Who does Wella compete with?
L'Oréal
Named in the S-1/A as a rival in hair and nail, and through L'Oréal Professionnel in styling tools.
Henkel
Named in the S-1/A as a rival in hair and nail.
Kao
Named in the S-1/A as a rival in hair and nail.
Unilever
Named in the S-1/A as a rival in hair and nail.
Estée Lauder
Named in the S-1/A as a rival in hair and nail.
SharkNinja
Named in the S-1/A as a rival to ghd in hair tools.
Dyson
Named in the S-1/A as a rival to ghd in hair tools.
What protects the business
Each strength is scored 1 (weak) to 5 (strong) for the business, with the reason. It is not a rating of the share.
- Salon relationships4 of 5
Wella serves more than 250,000 salons and reports 97% revenue retention among salons its own reps serve (its own measure).
- Brands4 of 5
Wella Professionals passed $1 billion of FY2026 revenue; the company ranks #2 in US and UK retail hair color (2025), per industry data from Euromonitor as cited in the S-1/A.
- Patents and research3 of 5
About 730 issued and 520 pending patents, and more than 300 scientists; patents expire between 2026 and 2045.
Weak spot
Interest cost
Net interest of $151.8M took 62% of FY2026 operating income of $243.3M (Cityfort arithmetic from the S-1/A).
13 · The numbers · Consolidated · US$
How has Wella done?
Revenue
$2.9BFY2026
Revenue rose from $2,590.3M in FY2024 to $2,939.1M in FY2026 (years to Jun 30); FY2026 grew 9.2%, with currency moves adding $108.4M.
US$ · Source: The Wella Company: Form S-1/A (Amendment No. 1) registration statement and preliminary prospectus (no price range)
See the numbers
Net profit
$2.7MFY2026
The parent group's net income was $2.7M in FY2026, after losses of $122.7M in FY2024 and $44.6M in FY2025.
US$ · Source: The Wella Company: Form S-1/A (Amendment No. 1) registration statement and preliminary prospectus (no price range)
See the numbers
Profit kept per $100 of revenue
$0.1FY2026
EBITDA (operating income plus depreciation and amortization) was $12.9 per $100 of revenue in FY2026, up from $6.4 in FY2024.
$ of profit per $100 of revenue (net margin) · Source: The Wella Company: Form S-1/A (Amendment No. 1) registration statement and preliminary prospectus (no price range)
See the numbers
Free cash flow
$159MFY2026
Free cash flow rose from $15.5M in FY2024 to $159.3M in FY2026; Wella paid $156.2M of interest in FY2026.
US$ · cash from operations minus spending on plants and equipment · Source: The Wella Company: Form S-1/A (Amendment No. 1) registration statement and preliminary prospectus (no price range)
See the numbers
See all yearly numbers
EBITDA here = operating income plus depreciation and amortization (from the cash flow statement). Fiscal years are the company's own (June 30). Net profit is the share belonging to the company's owners. Total net income differs from net profit to the company's owners: In FY2026, $58.7M of the $62.3M went to preferred shares in the subsidiary Rainbow JVCo (the stake Coty sold in Dec 2025 to Tides Holdco, owned 77.5% by a KKR vehicle and 22.5% by Coty) and $0.9M to other minority holders, leaving $2.7M for the parent group, Rainbow Capital Group Limited.
14 · The company's own measures · FY2026
What do Wella's own measures show?
Official (GAAP): Net income, all holders (GAAP)
$62.3M
Company's own measure: Adjusted EBITDA (company measure)
$522M
Net income before interest, tax, depreciation and amortization, and also before brand write-downs ($84.2M), restructuring ($29.4M), IPO preparation costs ($12.4M), KKR monitoring fees ($4.6M), share-based pay ($3.6M) and other items.
Official (GAAP): Net income margin, all holders (GAAP)
2.1%
Company's own measure: Adjusted EBITDA margin (company measure)
17.8%
Adjusted EBITDA as a share of revenue.
Official (GAAP): Reported revenue growth (GAAP)
9.2%
Company's own measure: Revenue growth at constant currency (company measure)
5.1%
Growth if exchange rates had not changed. Currency moves added $108.4M to FY2026 revenue.
Official (GAAP)
No official figure measures this; it is the company's own operating measure.
Company's own measure: Senior Secured Leverage Ratio (loan covenant measure)
3.2 times
Secured debt against earnings as defined in the loan agreement; the limit is 9.0 times. It was 3.68 in FY2025 and 3.47 in FY2024.
These are the company's own measures, defined by the company. They are not comparable across companies, and they are not added together. Each sits beside the nearest official (GAAP) figure.
15 · Financial strength · Jun 30, 2026
How much debt does Wella have?
- Total debt$2.3B
- Cash and investments$322M
- Net debt (debt minus cash)$2.0B
- Net worth (shareholders' money)−$1.3B
- Interest cover
- 1.6×
- how many times operating profit covers interest
- Shareholders' equity was negative $1,323.2M because $3,161.4M of redeemable preferred stock and redeemable minority interest are shown outside equity. Debt-to-equity is therefore not shown.
- The term loan is in dollars, euros and pounds at floating rates, all due in fiscal 2029. The S-1/A says a 1-point rate change moves yearly interest by about $22.9M.
- After the IPO, a new loan agreement provides €850.0M, $500.0M and £100.0M of term loans plus a $500.0M revolving credit line, due 5 years after first use; amounts drawn at closing are blank.
- Goodwill and brand intangibles were about $3.37 billion of the $5,374.6M of total assets on Jun 30, 2026.
- Pension plans, about 98% of them in Germany, owed about $292M against about $236M of plan assets, a gap of about $56M.
16 · Who owns it before the IPO · Sep 23, 2026
Who owns Wella before the IPO?
From the prospectus table of principal stockholders. Holdings fall after the IPO when new shares are sold; the prospectus also shows the holding after the offering.
17 · Who runs it
Who runs Wella, and did they deliver?
Calvin McDonald
Chief Executive Officer · since 2026
Former Lululemon CEO; joined in April 2026. FY2026 pay was $21.46M, of which $20.0M was the grant-date value of share awards (RSUs).
Glenn Murphy
Executive Chair · since 2025
Executive Chair since January 2025; also interim CEO from January 2025 to April 2026. FY2026 pay was $9.63M, including $7.75M of share awards.
Frank Smalla
Chief Financial Officer and Chief Operating Officer
FY2026 pay was $1.92M.
18 · Governance signals
What do Wella's governance filings show?
- Auditor
- Deloitte & Touche LLP, since 2025
- Auditor changes
- Nov 12, 2024: Deloitte SA → Deloitte & Touche LLP (Deloitte SA was dismissed (notified Nov 12, 2024; effective Dec 20, 2024). The S-1/A reports no disagreements; the reportable events were 2 material weaknesses. Deloitte SA was re-engaged on Apr 8, 2026 to audit FY2024.)
- Audit qualifications
- None reported
- Related-party dealings
- Wella paid monitoring fees of $4.6M in FY2026, $5.0M in FY2025 and $4.5M in FY2024, split 75% KKR and 25% Coty until Dec 2025. KKR Capital Markets and KKR Capstone were paid $2.6M in FY2025 for underwriting and consulting. The agreement ends at the IPO with a fee whose amount is blank.
- Credit rating
- No public credit rating found
Flags to know about
auditor
Two material weaknesses in FY2024
The S-1/A says weaknesses in income-tax accounting and in currency translation of corporate goodwill and intangibles were found for FY2024 and fully fixed in FY2025.
related party
Fee to end KKR's monitoring agreement
The agreement ends automatically at the IPO. KKR's manager is then owed unpaid fees and, if KKR keeps at least 10% and a board designee or observer, a one-off payment of the present value of future fees, paid from cash on hand (amount blank).
disclosure
Drafting note in the S-1/A
A footnote on page 20 reads "NTD: Wella accounting to confirm." Pro forma earnings per share are also blank.
19 · Group and related parties
How much does Wella rely on related parties?
- KKR funds bought 60% of Coty's professional and retail hair business in Nov 2020 and held 74.2% by Dec 2023.
- Coty sold its remaining 25.8% in Dec 2025 to Tides Holdco, owned 77.5% by a KKR vehicle and 22.5% by Coty. Coty keeps only an indirect, non-voting interest.
- While the KKR Stockholders hold at least 25%, their approval is needed for a sale of the company, deals over $100M, new debt over $250M, share buybacks and hiring or firing the CEO.
- KKR can name a majority of the board while it holds at least 50%, and fewer seats as its stake falls (10% of seats at 5–20%).
- A KKR affiliate is a Facility B lender and will be repaid from the offering money; KKR Capital Markets is one of the 21 underwriters.
20 · Legal cases · as of Sep 23, 2026
What legal cases does the Wella offer document list?
Cases are listed as the offer document describes them. A pending case is an allegation until a court or regulator decides it.
21 · What could go wrong
What could go wrong for Wella?
- Debt
Large floating-rate debt
Wella owed $2,292.2M on Jun 30, 2026 at floating rates; the S-1/A says a 1-point rate change moves yearly interest by about $22.9M. FY2026 net interest was $151.8M.
Watch How much the IPO and new loans actually repay, and the new loans' rates.
- Legal
Hair-dye and hair-relaxer lawsuits
Numerous California and New York cases allege Wella and Clairol hair dye caused bladder cancer. Wella is also named in hair-relaxer suits over predecessors' products. No reserve is booked.
Watch Case updates and any reserve in later filings.
- Concentration
A few large retail customers
3 customers (beauty retailers, online platforms and mass stores) made up 19% of FY2026 revenue. Exclusive distributors handle 12% of the hair and nail business.
Watch Customer concentration in the next filing.
- Currency
Most sales are outside the US
The US was 24.6% of FY2026 revenue, so about 75% came from other countries. Currency moves added $108.4M to FY2026 revenue; they can also subtract.
Watch Reported versus constant-currency growth.
- Execution
Brand write-downs
Wella wrote down brand values by $141.0M in FY2024, $53.1M in FY2025 and $84.2M in FY2026, mostly the Briogeo brand and, in FY2026, $15.5M on OPI.
Watch The yearly brand-value test, done each April 30.
- Regulation
US tariffs
Wella's own factories are in Germany, Mexico and Thailand, and the S-1/A lists US tariffs and trade disputes as a risk factor.
Watch Changes in US tariffs on imports from these countries.
22 · Risks of the offer
What risks does the Wella offer document flag?
KKR stays in control
KKR will hold more than 50% of the votes, so Wella can skip NYSE rules on independent board majorities and committees. KKR's interests may differ from other stockholders', the S-1/A says.
Part of the money goes to a KKR affiliate
A KKR affiliate is one of the lenders the offering money repays. KKR's manager also gets a fee for ending its monitoring agreement, from cash on hand.
Immediate dilution
The S-1/A says new investors face "immediate and substantial dilution" (figures blank). More shares follow: IPO share grants and the WOW employee plan, settled about 3 months after the IPO.
Shares unlocked after 180 days
Existing holders can sell after the 180-day lock-up, or earlier if the underwriters' representatives release them. KKR has unlimited rights to demand that its shares be registered for sale.
No dividends planned
Wella says it has no current plans to pay dividends. As a holding company, it relies on its subsidiaries for cash, and loan terms limit payments.
Takeover defences
Directors serve staggered 3-year terms and can be removed only for cause, and some charter changes need 66⅔% of votes.
23 · How it got here
How did Wella get here?
2020
Business-model change
KKR buys control from Coty
On Nov 30, 2020, KKR funds bought 60% of Coty's professional and retail hair business; Coty kept 40%.
2021
Milestone
KKR raises its stake
KKR bought a further 9.4% and 4.7% from Coty, reaching 74.1%.
2023
Milestone
WOW employee plan launched
On Feb 14, 2023, Wella launched a plan giving employees a pool of 4% of the rise in equity value from Nov 2020 to an exit.
2025
Business-model change
Coty sells its direct stake
On Dec 18, 2025, Coty sold its 25.8% to Tides Holdco, owned 77.5% by a KKR vehicle and 22.5% by Coty.
2026
Milestone
New CEO and IPO filings
Calvin McDonald became CEO in April 2026. A confidential draft was submitted Apr 17, 2026; the public S-1 followed on Aug 31 and the S-1/A on Sep 23.
Source: The Wella Company: Form S-1/A (Amendment No. 1) registration statement and preliminary prospectus (no price range); SEC EDGAR filing list for Wella Co (CIK 2125056): no filing after the S-1/A of Sep 23, 2026
24 · Both sides
What do supporters and critics point to?
What supporters point to
- Revenue grew from $2,590.3M in FY2024 to $2,939.1M in FY2026; FY2026 growth was 9.2% reported and 5.1% at constant currency (the company's measure).
- Operating income rose from $47.5M in FY2024 to $243.3M in FY2026, and free cash flow from $15.5M to $159.3M.
- Beauty Tech (ghd) revenue grew 14.3% in FY2026 to $458.9M.
- The S-1/A describes new loans with an initial margin of 2.25% over benchmark rates, against 3.25–4.50%, Facility B's applied margins on Jun 30, 2026.
What critics point to
- Of FY2026's $62.3M net income, only $2.7M belonged to the parent group; $58.7M went to preferred shares in a subsidiary.
- The S-1/A says Wella had net losses in 4 of its last 5 fiscal years.
- Net interest of $151.8M took 62% of FY2026 operating income (Cityfort arithmetic).
- Brand write-downs totalled $278.3M over FY2024–FY2026 (Cityfort arithmetic), mostly on Briogeo.
- KKR will keep more than 50% of the votes, and a KKR affiliate is among the lenders being repaid.
25 · What to watch next
What should you watch next for Wella?
Next event
S-1/A with the expected price range and share count
Date not announced yet.
Offering terms
The share count, price range, KKR's stake and the money raised are blank in the S-1/A of Sep 23, 2026. No later filing was on EDGAR by Oct 27, 2026.
How much debt is repaid
How much of the $2,292.2M Facility B the offering money repays, and how much the new loans replace.
Open items in the S-1/A
A drafting note on page 20 and blank pro forma earnings per share may change in the next filing.
Hair-dye and hair-relaxer cases
The S-1/A books no reserve for them; later filings may update the cases.
Restructuring and the China exit
The S-1/A expects about $33.7M more restructuring costs, including leaving the China hair business by FY2027.
26 · Key facts
Key facts about Wella
- What does Wella do?
- The Wella Company sells hair color, hair care and nail polish to salons and shops in more than 100 countries, plus ghd hair styling tools. Its brands include Wella Professionals, Clairol, OPI, ghd, Sebastian Professional and Nioxin, per its S-1/A of Sep 23, 2026.
- How does Wella make money?
- Wella earns money selling products. In FY2026 (year to Jun 30, 2026), its Hair & Nail segment brought in $2,480.2M (84.4% of revenue) and its Beauty Tech segment (ghd tools) $458.9M.
- Who are Wella's customers?
- Wella sells to more than 250,000 salons, and to beauty retailers, online stores such as Amazon and mass-market shops. 3 Wella customers together made up 19% of FY2026 revenue, per the S-1/A.
- How big is Wella?
- Wella's revenue was $2,939.1M in FY2026 (year to Jun 30, 2026), up 9.2% from $2,692.2M. Net income was $62.3M, of which $2.7M belonged to the parent group.
- Who owns Wella before the IPO?
- Funds managed by KKR control Wella, per its S-1/A of Sep 23, 2026. Coty, the former co-owner, sold its direct stake in Dec 2025 and keeps only an indirect, non-voting interest.
- What is the Wella IPO?
- Per its S-1/A of Sep 23, 2026, The Wella Company plans to sell new shares on the NYSE under the ticker WELA. The share count and price range are not yet in the filing.
- How much debt does Wella have?
- Wella owed $2,292.2M on its Facility B term loan on Jun 30, 2026, and held $322.3M of cash. It paid $156.2M of interest in FY2026.
27 · Sources and changes
Where every number on this page comes from
Sources (2 documents)
- S1The Wella Company: Form S-1/A (Amendment No. 1) registration statement and preliminary prospectus (no price range) · The Wella Company via SEC EDGAR · Tier 1: company or exchange filing · Sep 23, 2026
- S7SEC EDGAR filing list for Wella Co (CIK 2125056): no filing after the S-1/A of Sep 23, 2026 · U.S. Securities and Exchange Commission · Tier 1: company or exchange filing · Oct 27, 2026
Changes to this page (v1 · Oct 27, 2026)
- v1 · Oct 27, 2026First version, based on the S-1/A (Amendment No. 1) filed Sep 23, 2026. (first version, based on the S-1/A)
Numbers come only from tier 1 and tier 2 sources. Read how we research.
Disclaimer
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Cityfort publishes general educational content that explains how listed companies work. Cityfort is not registered with the US Securities and Exchange Commission or any state securities regulator as an investment adviser, and is not a broker-dealer or a member of FINRA. Cityfort does not provide investment, tax or legal advice, recommendations, ratings, price targets or any opinion on whether to buy, sell or hold any security. Nothing on the site is tailored to any person's circumstances.
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