The global hair care business founded by Grimsby ‘hairpreneur’ Shaun Pulfrey brought in record sales in the year it was bought from the Dragons’ Den reject.
Tangle Teezer saw revenues hit £43.5 million in 2021, with the deal with Mayfair Equity Partners completing in the July. It was up 47 per cent on the £29.6 million brought in during 2020, with earnings lifting 67 per cent to £9.7 million.
The innovation in detangling brushes had been dubbed hare-brained on the BBC pitch, but Mr Pulfrey’s faith in what he had brought forward has paid enormous dividends.
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Continued international growth and product expansion was credited with the latest success, either side of the sale of his majority shareholding.
The US is now the single largest market - of more than 75 it is now active in - with Stateside sales experiencing a 133 per cent increase. Tangle Teezer has entered styling product and pet markets too.
Mr Pulfrey appeared before the likes of Deborah Meaden, Peter Jones and Duncan Bannatyne in 2007, having channelled his energy into the development of The Original palm-sized brush with innovative teeth. It came after a 25 year career as a colourist that took him from Grimsby, to Manchester and then London. He went on to join Vidal Sassoon, crossing the Atlantic to spend a decade at salons in New York, LA and Boston.
He returned to the UK with Toni and Guy, in Manchester in 1993, before heading back down to London to join Nicky Clarke and then Richard Ward, before his lightbulb moment.
While dragons said no, the British public roared, crashing a fledgling website. He’s subsequently been described as THE one that got away. Queen’s Awards for Enterprise and Innovation and then International Trade flowed, with Mr Pulfrey presented to Her Majesty at Buckingham Palace in 2014.
Tangle Teezer is now described as a ‘category defining British haircare brand’.
James Vowles, chief executive, said: “We began 2021 with a core goal of dramatically growing our footprint and brand awareness in the U.S. and Asia. Due to the exceptional work of our global team, the expansion of existing ranges and retail relationships, and entrance of new categories like Scalp Care, we are surpassing many of our ambitious targets. At home in the UK, we have also maintained our momentum, grew market share and establishing a number of successful new partnerships.
“Over the next 12 months, we will continue to cement our position as a leading global haircare brand and founder of the detangling category. Our strategy is to focus on what we do best: delivering innovative products at an affordable price, great marketing, and continuing the international rollout of our brand. In the coming months, we will unveil a new ESG strategy to ensure our products, brand, and company are fit for the future and our planet. I would like to extend my sincere congratulations and heartfelt thanks to the entire Tangle Teezer team for their hard work and dedication.”
Half of all sales are now online, while the year saw it enter new relationships with large international retailers including Target, CVS, and Superdrug and expanded existing partnerships with Sephora, Ulta, Nordstrom, and Boots.
Following the Mayfair deal, Mr Pulfrey no longer has an active role in the business, but stays in touch with Tangle Teezer’s progress and "remains the company’s biggest advocate".
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