Gen-Z, Millennial Opps: Good Dye Young launches in Ulta, taps top marketer (Score 79)

Sales Lead: Good Dye Young (GDY) just launched on Ulta's website and in all of its stores.

• This launch includes an Ulta-exclusive, beginner-friendly starter kit.
• The hair dye brand is owned by Paramore goddess Hayley Williams and her hairstylist and her hairstylist and best friend, Brian O'Connor.
  • Its advertising is centered around GDY products' botanical ingredients and education (because we can't have any ignorance).
  • Its products are also available at Target, Walmart, Sally Beauty, and Amazon.
  • Right now, GDY is particularly focused on brick-and-mortar sales channels, which means it's relying on people leaving their houses.
• Reportedly, GDY has experienced a 67% YOY compound annual growth rate since its founding in 2016.
  • It has projected retail sales of $20m for 2023 and $35m for 2024.
  • The company, one might say, is certainly not having hard times.
• The company will likely:
  • Pursue additional retail partnerships
  • ​​​​​​​​​​​​​​Keep ramping up spend
  • Seek new agency partners
• Target demographic: 
  • ​​​​​​​​​​​​​​B2C: Gen-Z and millennials
  • B2B: Potential retail distribution partners

Recent leadership shifts:

• This announcement closely follows GDY's May 2023 promotion of its top marketer, global sales and marketing SVP Ashley Floto.
  • ​​​​​​​​​​​​​​Floto joined the company in February 2022 as its global sales VP; she must still be into the company.
  • She succeeds Dee Heffernan, who parted ways with GDY in 2022 after having been named its global marketing VP earlier in 2022.

Additional spending insights:

• Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
  • YTD spend: Since the beginning of 2023, GDY has spent roughly $264.4k on digital ads, more than 5x the roughly $48.6k spent by this point last year.
  • YTD data: The company has earned ~35.4m digital impressions YTD, 54% via Instagram ads and 46% via Facebook ads.
  • Last year: In 2022, GDY's estimated full-year spend increased by 74% to $275.6k from that of $158.5k in 2021.
• Additional channel insights  
  • The company utilizes Google Ads, Facebook, Instagram, and TikTok ads. 

Additional agency insights:

• Opportunity: The recent top marketer promotion may lead to agency reviews, so get in touch soon to be top-of-mind.
• Current agency roster:
  • ​​​​​​​​​​​​​​​​​​​​​No agency partners yet confirmed

Insight Sources: Digital spend insights estimated by Pathmatics; additional channel insights estimated by Vivvix.